Digital Meeting: 2 March 2023
The FCA’s latest supervisory strategy and priorities for asset managers will feature in their 2023 Dear CEO letter to the industry, expected to be published in February.
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.
Contributors
Camille joined the FCA as Director of Wholesale Buy-Side in October 2022. Most recently she worked at Legal & General Investment Management where she was Chief Compliance Officer and was responsible for the company’s global compliance framework and team. Before that she was Chief Compliance Officer at Aviva Investors and was Chair of the Investment Association’s Brexit Committee. She has held international chief compliance officer roles in investment banking and money services businesses. Camille has held senior policy roles at the Central Bank of Ireland and for the Australian Government. She was a Principal Advisor to the Australian Treasury on the 2014 Australian Financial System Inquiry and the 2016 Capability Review of the Australian Securities and Investments Commission. During the financial crisis she was the Head of Investment Banking at the Australian Securities and Investments Commission.
Senior Adviser & Non-Executive Director – Fund Boards Council
Brandon is a Senior Adviser and non-executive director at FBC and is involved with FBC’s consultancy and thought-leadership work, with a focus on product governance, assessment of value and investment governance, including oversight of sustainable investments. He is also a qualified actuary and Principal Consultant at NomBon Consulting, a boutique management consultancy focused on helping firms to design, manage and distribute regulated products and advice services which deliver good outcomes for retail customers.
Brandon also chairs the Appointments Committee of the Financial Reporting Council’s Tribunal Panel and has experience as a Non-Executive Director of organisations regulated by the Financial Conduct Authority (FCA), The Pension Regulator (TPR) and the Gibraltar Financial Services Commission (GFSC).
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.
Philip Warland spent the first part of his career in the Bank of England. He was the Governor’s Private Secretary, Adviser on Oil and Energy and Chief Press Officer amongst other roles. After a brief time with Standard Chartered the rest of his career has been in asset management. First as head of the trade association, now the IA. Then with PWC, and a head-hunter Halsey, and finally with Fidelity where he was Head of Public Policy. Currently he is a part time adviser to a Brussels based policy consultant, Kreab. He also was the founding chairman of the Oasis Trust which, amongst other things manages fifty two City Academies and works in eleven countries worldwide.
Registration:
This event is open to members of FBC.
Members can register by logging in to the Member Portal here.
If you have an enquiry regarding this event, please do get in touch with us at contact@fundboards.org.
