Now, asset management firms based in the United Kingdom paying their taxes and doing everything by the book can rightly say they have nothing to do with tax avoidance in most cases.
Even firms which have offshore units as part of a wider financial services business may justifiably say they have nothing to do with some of the more concerning aspects of the Panama information.
Many people though will perhaps unfairly be unable to see the distinctions and therefore tar all financial services firms with the same brush.
At least we can say that at first glance Cummings seems very well qualified having spent seven years as head of the trade body for financial advisers, the AIFA.
Many of the principles and skills involved in being the advocate-in-chief for the financial advice industry should transfer well to advocating for the fund management industry. They will need to.
