FBC was pleased to welcome Camille Blackburn, the FCA’s new Director of Wholesale Buy-side, to discuss the key themes in this letter relevant to fund boards and the regulator’s expectations of directors, as well as the FCA’s planned focus for the next 24 months of supervisory and policy work. Following an initial ‘fireside chat’ with Philip Warland, Chair of FBC’s Advisory Council, the floor opened for questions to all meeting participants. 

Key themes included the Consumer Duty, Assessment of Value and the FCA’s Sustainability Disclosure Requirements, including how these key initiatives interact with each other and what the regulator expects from asset managers in general and authorised fund managers in particular. Additional themes included operational resilience, oversight of service providers and liquidity risk management.

This interactive session provided an open discussion forum and we encouraged all our corporate members to participate fully in the discussion.