We were delighted to have representation from all our Corporate Members for this meeting and be able to provide an insightful 90 minutes on Consumer Duty and the responsibilities of the fund board.
FBC senior adviser, Brandon Horwitz, presented the key findings from our forthcoming research paper on the topic. This was followed by a panel discussion with the FCA’s Chris Douglas (responsible for supervising a portfolio of large and medium sized asset managers), and M&G’s Laurence Mumford (chair of the fund board).
About the research
The new FBC research focuses on the implementation of the CD by authorised fund managers, including highlighting good practices and challenges to help fund boards further enhance their CD oversight. Some of the key aspects presented at this digital meeting included:
- Fund board involvement in CD work (including role of the CD champion)
- Considering the needs of vulnerable customers
- MI to monitor if funds are reaching their target market (including distributor feedback)
- Evidencing customer understanding and support
- Impact and actions arising from CD
- Emerging good practices
The following discussion and Q&A delved into the topic further, including the expectations of the FCA.
FBC Corporate Members can now view the recording and slides presented at this meeting in the Member Portal here.
