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.
Director of Wholesale Buy-Side, FCA
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.