Digital Meeting: 27 April 2023, 2:00pm
This important regulatory initiative is a key feature of fund boards’ governance work in 2023 and, as implementation deadlines approach, this FBC Digital Meeting discussed how firms are working with distributors and platforms to produce an improved exchange of data. This should encourage greater oversight of distribution, more informed insight as to client trends and of course better enable fund boards to ultimately evidence improved consumer outcomes.
This digital meeting was hosted by Simon Hynes, FBC senior adviser, and consisted of a panel of Consumer Duty experts from the fund manager and platform industry.
Contributors
Senior Policy Advisor at the Investment Association
Mandeep is a Senior Policy Advisor at the Investment Association. She supports the IA’s members with Consumer Duty implementation, including policy development and engagement with regulators/policy makers. This includes responsibility for the running and strategic direction of IA’s workstreams and activities to support the investment management industry.
She joined the IA from the FCA having gained extensive experience in policy and regulatory affairs over eight years. Her roles involved managing and influencing a broad network of domestic and international stakeholders at senior levels.
Prior to working at the FCA, Mandeep consulted on political and resilience matters as well as working in the legal and compliance departments at investment banks.
Mandeep holds a law degree and master’s degree in Law from Queen Mary University of London. She also holds a master’s degree in International Studies and Diplomacy from SOAS London.
Distribution Governance Director, M&G
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.
With more than 20 years’ experience in the world of financial services, including senior proposition positions at Axa Wealth, Elevate and Sanlam, plus qualifications in both financial planning and project management, Dan’s particular expertise is in platform and DFM propositions.
He is currently helping guide Parmenion’s clear, co-ordinated response to Consumer Duty. Leading a multi-disciplined working group from across the business, he ensures that the response to the regulation is considered from every perspective, and always with the best interests of the customer in mind. The Consumer Duty hub at parmenion.co.uk has been widely lauded by industry commentators including PIMFA and The Lang Cat for its excellent content.
Simon joined the Fund Boards Council as a Senior Adviser in January 2022 to work on the Distributor oversight and Product governance initiatives. He has extensive UK & European Investment Management distribution experience with leadership and board roles at Jupiter and Legal & General Investment Management.
His UK AFM board experience saw detailed involvement in Assessment of Value, PROD and other regulatory initiatives. He also built LGIM’s Retail sales presence in Europe and was integral to the development of its ETF business. This gave a fascinating insight into the work of European fund regulators and increased his latent enthusiasm for sharing best practice in fund governance.
Since 2020 Simon has also served as a non executive director for NedGroup Investments.
