NEDs wanted!
In April 2018, the FCA announced a range of measures to improve fund governance, protect investors and ensure that investors receive value from the investments. One of these measures requires the Board of Authorised Fund Managers (‘AFMs’) to be comprised of a minimum of 2 independent non-executive directors, representing at least 25% of the Board. The deadline for AFMs to comply with the requirement of the policy statement (PS18/8) is approaching fast: 30th September 2019!
NEDonBoard met with the FCA to gain a clear understanding of the policy statement and support NEDonBoard members in positioning them for those roles. In the NEDonBoard member’s version of this blog, we outline some of the key points of our meeting with the FCA. We assessed that the introduction of the Policy Statement has created around 400 to 500 NED roles, a portion of which remain to be filled before the 30 September 2019 deadline. Full information is only open to NEDonBoard Standard or Event Members who are up to date with their membership fee. If you are not a member or if your membership has lapsed, (re)-join NEDonBoard, your professional body today.
On behalf of NEDonBoard, Elise Perraud
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