FEFSI had an altercation with producer-actor RK Suresh on the sets of his Tamil film Billa Pandi last month as its members who were employed as technicians on the film demanded an increase in daily wages.
When Suresh escalated the matter to Vishal, president of TFPC, the latter called off the film's shooting and suggested that technicians outside FEFSI can be used for the shoot.
"TFPC should work with the members of FEFSI who are more than 25,000 in number and can't use non-FEFSI members.
Fefsi works with national associations in each Member State, which in turn liaise with individual fund management companies.
The move by Fefsi is at least in part a public relations initiative designed to calm investor fears and promote a client friendly image.
FEFSI says the new measure should "reflect the wishes of the European investment funds industry as a whole", and take into account the guidelines that FEFSI recommends for all EU rules in this area, including the creation of a European passport for management companies, and rules on distance selling of products, taxation of savings, and management of pension funds.
At the heart of the FEFSI approach is "the creation of professional standards for managers across Europe".
FEFSI now claims to represent 850 management companies and more than 19,000 publicly-offered open-ended securities funds, through its members in the 15-nation EU, and in the Czech Republic, Hungary, Norway, Poland and Switzerland.