The association of wealth managers is urging the government and the regulator to carry out a six-point plan to reform disclosure requirements in the wake of Priips reforms in the UK.
Pimfa, the UK trade association for wealth management, investment services and the personal investment and financial advice industry, has released a six-point plan to reform disclosure requirements following the UK government’s decision to repeal the Packaged Retail and Insurance-based Investment Products (Priips) regime. The association believes the focus of the current review must be on the broader purpose of disclosure and on what disclosure can realistically be expected to achieve.