Mon Sep 23 23:07:08 UTC 2024: ## UK Platform Industry Forms New Trade Association Amid Regulatory Scrutiny
**London, 24 September 2024:** A new trade association, the Platforms Association, has been launched in the UK, bringing together major players in the investment platform sector. The association aims to provide a unified voice for an industry that has witnessed significant growth driven by technology, now managing nearly £1 trillion in assets.
Founding members include Abrdn, Aegon, Fidelity, Quilter, Seccl, and SS&C, who will be represented on the association’s board and leadership council. Industry veteran Keith Phillips has been appointed as CEO.
The association’s formation comes amidst a backdrop of increased regulatory scrutiny and economic uncertainty. The Platforms Association will work to ensure best practices and co-ordinate collective action, benefiting both platform operators, financial advisors, and ultimately, investors.
“The investment and fund industry has been transformed and democratized over the past decade,” said Phillips. “It’s clear that as the industry, technology and customer demographics have evolved, sector-wide coordination should now be fully realized for the benefit of all.”
David Moffat of SS&C, who will serve as chair, added: “Given a background of increased economic uncertainty and regulatory scrutiny, the UK platform industry now needs its own dedicated forum and representative voice.”
The Platforms Association represents a significant development in the UK financial services landscape, signaling the growing importance of investment platforms and the need for a unified industry voice to navigate regulatory challenges and promote best practices.
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