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April 2022 |In this edition

ESG / Responsible Investment

What next for Authorised Fund Managers (AFM’s) and Responsible Investment?

The second in our series of member events on responsible investment, with the Financial Conduct Authority and the Financial Reporting Council.

Fund Board Effectiveness

Proactive about Performance

The latest on how firms are reviewing the effectiveness of their fund board.

Distribution Governance

In Pursuit of Excellence

Simon Hynes' expert insight on distribution directives.

SPOTLIGHT: Luxembourg Lens

Interview with Craig Blair, managing director and board member of Franklin Templeton International Services S.ar.l.
Regulatory focus and the changes in management company boards in Luxembourg.

PROFILE: Marc Saluzzi

Multi-jurisdictional Model

Insights on the opportunities and challenges of being a cross-border iNED.

FBC IN THE COMMUNITY

Charity Support
Highlighting one of the three charities we have pledged to support in 2022.

BOARD BUSINESS: The Latest Fund Governance News

News you can use

Our latest curated news you can use from the past fortnight.

C ALENDAR

A busy quarter of engagement ahead for FBC member events and insights.

FEATURES & ANALYSIS

What next for Authorised Fund Managers (AFM’s) and responsible investment?

In the latest of our series of round-table discussions focusing on responsible investment (RI) / ESG investing we heard from Claudia Chapman, Head of Stewardship at the Financial Reporting Council (FRC), and Mark Manning, Technical Specialist focused on Sustainable Finance and Stewardship at the Financial Conduct Authority (FCA). Read a brief overview of the session here.

FBC corporate members can watch the recording or listen to the podcast on demand in their Member Portal here as well as accessing a detailed write-up of the event here.

Proactive about Performance: How firms are assessing the effectiveness of their fund boards

Fund board reviews were top of the agenda at our member meeting on 24 March. We were joined by experienced independent director Eimear Cowhey, who sits on investment boards in the UK, Ireland and Luxembourg and the Managing Director, Asset Management at Coutts, Ben Hunt. Read the write up here. FBC corporate members can view the whole meeting in their Member Portal here.

Distribution Governance – In pursuit of excellence

UK and Europe investment management distribution expert, and newly appointed FBC senior adviser, Simon Hynes, provides his valuable insight on the evolution of distribution governance. From the Retail Distribution Review (RDR) to Treating Customers Fairly (TCF) and now Consumer Duty, Simon reflects on the connectivity of these directives and what it means for fund boards today. Read the full article here.

SPOTLIGHT

Luxembourg Lens

To get the lowdown on the regulatory focus and the changes in management company boards in Luxembourg, FBC sat down with Craig Blair, managing director and board member of Franklin Templeton International Services S.ar.l. Our full interview covers topics such as the split role of the fund board, board composition and role of iNEDs, and the outsourced model. Read the full article here.

PROFILE

Marc Saluzzi

iNED

"When you are sitting on the board of the main ManCo in Europe, all the top guys are around the table, which was very important from my point of view because you want to know who's running the business and how they are behaving."

As one of a very small number of investment board directors who sit on boards in multiple jurisdictions, Marc Saluzzi has a unique insight into how fund governance is playing out across Europe. Read the interview write up here.

FBC in the Community

In 2021, FBC launched its charity support programme. It’s our way of giving forward for the amazing support we receive from many of you who give your time and expertise to support our work in fund governance.

We make an annual donation, split across three charities. Our senior advisor and director, Brandon Horwitz, nominated Ambitious About Autism to benefit from the donations in 2021 and this year.

Ambitious About Autism(AAA) supports every autistic child and young person in their right to be themselves and realise their ambitions. They stand with autistic children, young people and their families to champion rights, campaign for change and create opportunities. More details about AAA and the other charities we have chosen for 2021/22, can be seen here.

BOARD BUSINESS

The Latest Fund Governance News You Can Use

LATEST FBC BLOG

Catch up with the latest fund governance news you can use, curated by FBC, by clicking here.

FBC Member Events & Engagements

April-July 2022

Date: 18 May 2022 | Time: 1PM-2PM

Exploring Distribution Oversight and Best Practices

A panel of experts and presentation of the findings of FBC's proprietary research of distribution oversight and the extent to which it is being undertaken by UK & UCITS fund managers.

For more information, click here. FBC Members can register interest in this event here.

Date: 21 June 2022 | Time: 1PM-2PM

Fund Board Effectiveness - Purpose and Structure

This event will be the first in a series providing the findings and insights from our fund board effectiveness barometer research looking at key aspects of Fund Board Effectiveness.

For more information on the barometer, click here and on the event click here. FBC Members can register to attend this event by clicking here.

Date: June 2022 (TBC)

Linking with Luxembourg

FBC had a great visit to Luxembourg in March to see members and industry partners. We hope to be back again in June (to be confirmed) to pick up and hear more from industry partners and colleagues.

Date: July 2022 (TBC)

Discussion on the FCA’s Sustainability Disclosure Requirements consultation

We will explore the FCA’s proposals and consider what they mean for fund boards, both in terms of implementation and overseeing ongoing alignment with the requirements.

For more information, click here. FBC Members can register interest in this event, here.

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