TISA restructures advisory councils
TISA is to restructure its framework of practitioner-led advisory councils and underlying technical groups in order to align them more closely with the Association’s expanding remit.
The advisory councils allow representatives from TISA member firms to meet and discuss regulatory, operational and strategic issues in a secure and non-competitive environment, before making recommendations on policy to the TISA Board.
In the new framework TISA is re-focussing these councils so that they are better placed to discuss the broad, high level policy issues. Technical sub-committees are being created to concentrate on the operational issues and there is an option to establish executive committees or working groups to take on specific projects, for example the recently announced advisor protocols group.
As part of the new approach TISA is creating a Savings & Investment advisory council to consider non-pensions saving policy. The council will pursue an agenda which will consider how savings policy should be addressed and articulated by government and regulators, along with the framework necessary to increase the amounts being saved for the short, medium and long term at all levels of society.
TISA’s six advisory councils will be:
• Children’s Savings
• Centralised Investment Propositions (CIPs)
• Distribution
• Retirement
• Savings & Investment
• Wrap & Platform
The initial technical committees will cover:
• Retirement
• Cash & Investment Savings
• Wrap & Platform
• Client Money
Tony Vine-Lott, TISA Director General says:
“We have established a reputation as an organisation that is able to bring interested parties together to discuss key issues and deliver solutions that meet the needs of government, regulators, providers and that are in the best interests of the consumer.
“As a result, we are being asked to consider a more diverse range of regulatory and operational issues. By fine-tuning our committees we will be able to meet our expanding remit more efficiently. It will also provide a structure that allows us to engage more effectively with the key people and groups. This will allow TISA to develop policy ideas and to stimulate debate on what is necessary to create a future retail financial services environment that the consumer has confidence in.”
Recently, TISA has facilitated a solution through TeX (TISA Exchange limited) that will enable the electronic re-registration of assets. Current projects include: advisor protocols, data quality, structured deposits, client money, unit classes & conversions and pension transfers. Further details about the new committees will be added to the website: www.tisa.uk.com
Ends……
For further information, please contact:
Tony Vine-Lott, Director General, TISA – Tel: 01372 374728, Mobile: 07790 006108Email: tony.vine-lott@tisa.uk.com
Carol Knight, Director of Member Services, TISA – Tel: 01642 666989, Mobile: 07967 317003 Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of savings vehicles & services and centralised investment propositions.