The Investment Association has called on regulators to improve the rules relating to EU-based clients of UK investment managers.
The trade body represents 250 investment management firms that collectively manage €3.2trn on behalf of EU investors.
The IA’s views are detailed in a report titled Making Investment Better for All. The stated aim is to encourage EU institutions to place individuals at the centre of policymaking, improve access to sustainable investment opportunities, promote open and efficient capital markets, support innovation and new technology, and foster greater international cooperation on regulatory standards.
The specific recommendations include ‘bringing clarity and certainty’ to investors on sustainable investments.
The IA said this will need to consider the sequencing of the EU’s sustainable finance agenda, recognise the complex and unique investor preferences, and provide greater international alignment on standards.
IA CEO Chris Cummings (pictured) said: “Investment managers play a vital role in helping millions of households across every EU member state provide for their financial futures. Our members manage €3.2trn for European investors and provide €1trn to European businesses and projects in need of capital.”
A version of this article first appeared on ESG Clarity’s sister title Portfolio Adviser.