In October 2004, ahead of the recent publication of the UK Government and FSA response to the Treasury Select Committee's report “ Restoring Confidence in long-term savings” the Investment Management Association (IMA) and Association of British Insurers (ABI) have taken an initiative towards the establishment of a Financial Services Forum, as recommended in the Committee's report. 

There are a number of graphics on the website http://www.metaphorbusinessgraphics.com in the Financial Services Regulation section,depicting the market timing scandals in the US.

Lindsay Tomlinson, Chairman of the IMA, and Richard Harvey, Chairman of the ABI, have sent a joint letter to interested parties to invite them to a meeting to discuss how best to take forward the Committee's recommendation for such a Forum.  As the Committee recommended the key focus would be on how the financial services industry could better serve its customers.

Richard Saunders, Chief Executive the IMA said,

“ We accept the Committee's view that there is a need for a mechanism which will better identify current and emerging issues which may affect consumer confidence in the financial services industry.  We hope this initiative will be a first step towards that.”

The Financial Services Forum will be watched with interest