The Investment Association, the fund managers’ trade body, is to join IOSCO, the global body for regulators and securities commissions, as an affiliate member.

IOSCO co-ordinates the work of the world’s securities regulators and sets international global standards for the securities sector.

The body develops, implements and promotes adherence to internationally-recognised standards for securities regulation.

IOSCO works intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda. It has close ties to the Financial Planning Standards Board, the international regulatory standards body for the Financial Planning profession’s Certified Financial Planners.

Chris Cummings, chief executive of the IA said: “We are proud to become an affiliate member of IOSCO. Recognising the international dimension of our industry, our members have a strong interest in the development of coherent global standards and open, fair, and efficient markets.

"A close and collaborative relationship between IOSCO and industry is essential in achieving these goals.

“Representing one of the world’s largest investment management centres, we look forward to playing an active role in support of its work on financial stability, fund liquidity, systemic risk, and sustainability this year.”  

The Investment Association has 250 members, mostly fund managers, managing £10 trillion in assets under management. According to IA figures the UK is the second largest investment management centre in the world, after the US, and manages 37% of all assets managed in Europe. 

Mr Cummings is also currently chair of the International Investment Funds Association (IIFA), a global organisation whose members are national and regional associations representing the investment funds sector.