Where am I? 
Home Investment Regulation
Categories: Regulation
Topics: FOS| Financial Conduct Authority| Alan Lakey
Adviser Alliance is looking to take on new directors in a bid to move the organisation to a “new level” where it can challenge the remit of the FCA.
Alan Lakey, co-founder of the not-for-profit lobby group, said he wants to bring on board three new directors and increase the organisation's membership as it sets its sights on making the Financial Conduct Authority (FCA) more accountable and overhauling the ombudsman's remit.
"Adviser Alliance has decided 2012 is the year to expand," he said (pictured).
"The main area here - if we ignore the RDR which may be a fait accompli now - is to adjust the remit of the FCA and continue with our assault on the disgraceful actions of the ombudsman and the remit it has."
Lakey, also partner at Highclere Financial Services, said the new recruits will be tasked with attracting new members, setting policy, interacting with the regulator and examining how the organisation can work within Europe.
"We will be looking to move the organisation to a new level to reflect the fact we will be in a brave new world," he said. "We are looking for people to join with us in a serious way."
Currently Adviser Alliance has two directors - Lakey and co-founder Derek Gair - but Lakey wants to increase this number to five.
He said a beefed-up Adviser Alliance will campaign in 2012 for an overhaul in how the FOS deals with complaints.
Lakey thinks those bringing complaints should be charged a flat fee - returned if successful - in a bid to eliminate "spurious and opportunist" complaints.
"I also want a proper, independent appeals process within the FOS," he said. "We do not have one which is a breach of the human rights act."
He said the organisation will also look to influence the design and remit of the FCA in an effort to make it more accountable so it can be held to task.
"The Treasury and the FSA want great powers for the FCA and the same lack of accountability the FSA currently enjoys. That is a recipe for a nightmare."
| Share | |
| Comment | Adviser lobby group recruiting for directors to take on FCA |
More regulation news
Email alerts
Recommended reading
Categories
Topics
Comments
Oh dear Paul!
Are you another of those misguided souls who thinks the best way to advance the IFAs' cause is to attack its most effctive representative body? AIFA is not 'demised' as you well know. We're getting on with the job. In doing that we have no difficulty in wishing Alan well, or Gill Cardy, or anyone else who's trying to get a fair deal for advisers. What a pity that some can't recipocate that common-sense and common-cause position.
Posted by: Neil F Liversidge
And one more thing Paul.
As you're clearly not putting your hand in your pocket to help AIFA fight your corner I hope you will at least send Adviser Alliance a cheque. Alan can no more run an organisation on fresh air than can we run AIFA. At some point AIFA's critics might wake up to the fact that, like most things in life, the return one derives is proportionate to the contribution one makes. That equally applies, of course, whether the contribution is positive or, as in your comment above, negative.
Posted by: Neil F Liversidge
But Neil....
I suspect far more IFAs would have joined/had faith in AIFA had AIFA allowed IFA candidates to be considered for the DG role...and listened to what IFAs wanted to stand up for. e.g The call for the reinstatement (not introduction) of our legal rights for a 15 year longstop is something AIFA should have jumped on as soon as the FSA decided to usurp without consultation the judgement by the Law Lords of the circumstances in which ANY professional could claim the Longstop as a defence. For the people by the people is something trade bodies will need to embrace, as the AA seem to have already as the senior staff are IFAs/Advisers.
Posted by: Former IFA
Related articles
Most Read
Audio / Visual
With the industry's biggest fund managers, IFAonline welcomes you to the media centre.
This year we have 14 awards designed to mark out the very best products in a highly competitive and innovative market. This includes three new awards for 2011 to reflect the developments in this rapidly growing market: Best Dual/Multi-Index Product, Best Structured (Oeic) Fund and Best Structured Product Provider.
Events
Poll
|
|
Job search
Ifaonlinejobs will open the right investment career path for you. Search hundreds of vacancies on www.ifaonlinejobs.co.uk now
In Focus
Two months left before the ‘real RDR deadline’ – are you compliant with the required professional...
Viewpoints
2012 marks a watershed for the Life companies, fund managers, banks and advisers who service...
sponsored by
Good Luck
With the demise of AIFA, we certainly need a new organisation to stand up for Advisers. Don't forget the FCA will be the FSA in disguise. Still the same creeps in charge, with their hidden agenda of sticking the boot into IFA's and letting the banks do what they like!
Posted by: paul nash