IA delays Statement of Principles on industry pressure

Drops list of signatories

The Investment Association has extended the timetable for the implementation of its Statement of Principles, following widespread concerns over the strict reporting requirements.

The timetable for the Statement of Principles was first announced on 28 April, when members were invited to become signatories. Signatories were required to publish statements on their websites from 1 January 2016 explaining what they would do to uphold the Statement of Principles. On 3 August, the industry body published an update which included a list of 25 initial signatories to the principles, including BlackRock and Kames Capital. However, the industry body is extending the timetable following concerns by members over the reporting requirements, which they said add an addition...