This week’s package of reforms come at an important moment for the UK’s capital markets. We welcome the focus on strengthening retail participation and the ambition to help more people invest in UK shares. Done well, these reforms can support better valuations, broader wealth creation and greater economic insight.
But we cannot afford half-measures. Targeted support for those without financial advice and next spring’s retail investment campaign risk being too broad to shift behaviour. This is a rare chance to reset the UK’s investment culture, and we should be confident enough to say: buy shares, and buy British.
James Ashton, Chief Executive
We also note the FCA’s specific reference to the important role authorised funds play in investing in smaller-cap companies. As this work progresses, it will be essential that the layering of new guidance and supervisory expectations remains proportionate and does not unintentionally discourage investment in small and mid-cap quoted companies.
We look forward to working closely with the FCA to help ensure that the final framework supports a balanced approach across all asset classes – one which safeguards consumers whilst supporting the UK growth company ecosystem.
