FBC Digital Event: Consumer Duty – New FBC Research, and panel with the FCA
10 June 2024, 2 – 3.30pm UK time
Focusing on new FBC research on Consumer Duty dashboards and Management Information, this session will then be opened to a panel discussion, including participation from the Financial Conduct Authority (FCA), and a Q&A.
Brandon Horwitz, FBC senior adviser, will present key findings from new FBC research on Consumer Duty (CD) dashboards and Management Information (MI). Following this, he will chair a panel discussion with the FCA’s Chris Douglas, who has responsibility for supervising a portfolio of large and medium sized asset managers, and Laurence Mumford at M&G.
The new FBC research focuses on how the CD dashboards and MI facilitate oversight and compliance with CD for authorised fund managers, what good practice looks like in terms of board packs/MI as well as providing recommendations and examples of good practices on how fund boards can further enhance their Consumer Duty oversight. Some of the key aspects that will be presented include:
- How fund boards are involved in the Consumer Duty (CD) programme
- Role of the CD champion
- Current state of development of CD dashboards / MI
- How good / poor customer outcomes are defined, including what might constitute ‘foreseeable harm’
- Metrics used to measure good / poor customer outcomes
- Use of internal / external research
- Gaps / planned areas for development of CD dashboards / MI
Members of FBC can register for this event here.
Contributors
Brandon is Fund Boards Council’s Senior Adviser, involved with developing FBC’s Assessment of Value analysis and assurance model for its members and leading FBC’s new proposition – offering bespoke training and coaching for boards and executives.
He is also the principal of NomBon Consulting and an experienced actuary and independent director, providing consulting to insurers, asset managers, banks and wealth managers on investment and pension proposition design, delivery, governance and distribution strategy.
Laurence Mumford is Distribution Governance Director for M&G. Headquartered in London, M&G distributes a range of Retail and Institutional products globally, operating from offices across Europe, America and Asia.
Laurence has been a Board member of M&G Securities Limited (MGSL) since 2004 and currently Chair. MGSL is the ACD for M&G’s range of OEIC mutual funds, which currently consist of approximately 55 sub-funds with £35bn assets under management. Day-to-day responsibility is focussed on governance and regulatory control to support the product offering and distribution teams.
Laurence is also Chair of the fund Boards for two M&G UCITS SICAVs which have growing importance to M&G in the post BREXIT set-up.
Laurence is a chartered accountant and joined M&G in 2000 having previously worked at PricewaterhouseCoopers.
