Selftrade's CEO Taylor: MiFID II a 'step in right direction' to rebuild trust in the industry

Need to ensure the industry has 'credibility'

Mark Taylor, CEO of online investment platform Selftrade from Equiniti, has said the asset management industry has to do a better job of rebuilding trust within the industry, and pointed to the implementation of MiFID II as a "step in the right direction".

Speaking to Investment Week, Taylor said people had become very cynical of financial services as a result of the global financial crisis in 2008, but an increase in regulation, he said, would lead to greater transparency, a positive for the end customer and the industry as a whole. "We have to try and re-build trust and that is not an easy business. If we cannot rebuild trust there is no industry going forward. We all have to step up to the mark to ensure the customer interests are met because so often we lose sight," he said. In particular, Taylor pointed to the introduction of MiFID...