Delivering better investor outcomes has been a prominent theme for regulators in recent times, with the implementation of MiFID II earlier this year being just one significant example.
In April, the Financial Conduct Authority (FCA) introduced a number of remedies on this aspect, primarily designed to improve how fund managers compete to deliver value to investors. Two of these focus on fund governance to target this ongoing objective: the mandatory appointment of independent non-executive directors (INEDs) and rules on assessment of value. Improving investor outcomes may be what these latest changes are intended to achieve. Whether they go far enough remains to be seen. Board changes These measures are clearly evolutionary in their approach to better fund go...
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