WMA JOURNAL Issue 4 Autumn 2015
In this issue
Defence against Cybercrime The changing face of research 25 facts celebrating 25 years of the WMA Industry Statistics The importance of implementing a robust policy management programme
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Foreword From The Editor In this edition of the WMA Journal we not only look into history by celebrating our 25th anniversary since the foundation year of 1990, but are bang up to date in focusing on the very modern threat to our community from cybercrime and on today’s dilemma about how to handle in regulatory terms the changing nature of research. This mix of old and new characterises much of what we at WMA represent. Old fashioned virtues of knowing your customer and his or her needs and requirements well, and acting at all times in his or her best interests, combined with concerns about the impact of digital technology and MiFID II on firms, clients and business alike.
We aim to make sure that this full range of regulatory and other interests of our members is covered in the work we do, and that we maximise the numbers of “wins” we get for our community by securing where possible the best approach for us by legislators and regulators, eliminating the worst, and mitigating where neither extreme can be achieved. And we do so in part by explaining that those old fashioned virtues still apply in our neck of the financial services forest, so the authorities need have no doubt that the customer always comes first. It is important as we go forward ever deeper into the digital era, where electronic means make the nature of retail investment business and the individual’s relationship with the external world change as we read this, to incorporate the good lessons from the past into the modern context. Our 25th anniversary is just the moment to remind ourselves of this. John Barrass, Deputy Chief Executive of the Wealth Management Association
Would you like to contribute an article? Alongside updates from the WMA, the Journal includes several useful inputs from our associate member firms. These articles are an excellent opportunity to gain interesting insights into the wider industry and to learn more about WMA associate members. If you are an associate member who is interested in contributing to future editions of the Journal then please contact: Jason Baxter (jasonb@thewma.co.uk) or Sheena Gillett (sheenag@thewma.co.uk)
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Report designed by Cicero No responsibility for loss to any person acting or refraining from acting as a result of any material contained in this publication can be accepted by the WMA, the author, publisher or printer. The views expressed by individual contributors are not necessarily those of the Association. Company limited by guarantee. Registered in England and Wales. No 2991400. VAT registration 675 1363 26. Published for the WMA by WordWide London. Copyright WMA 2014.
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