Much of the work done by the IFSP on behalf of its members and the financial services community as a whole is mediated through the Institute’s sub-committees. Meeting as required – either on a regular schedule or according to need – the sub-committees provide an invaluable service.
Whenever the authorities, be it the government, the regulators or the European commission, need industry feedback through a consultation process they contact the IFSP. The response comes through the sub-committees, meeting, researching the issues and drafting the reply.
More than that: the sub-committees also meet to generate proposals to be sent to the authorities to improve the legal and regulatory underpinning to the financial services sector, and to provide members with the guidance they need to operate effectively. Each committee is subject to renewal after a year.