The NED publishes its first comparative review of the quality of alternative fund boards across EU and offshore fund jurisdictions in this issue. It shows that there are some significant differences in fund governance standards by domicile.

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The UK’s 200 authorised fund managers (AFMs) must have their independent directors appointed by the end of September. All the AFMs contacted by The NED said that they have made their appointments but some also added that these appointments have not yet been approved by the FCA. This confirms what many people have known for sometime: many AFMs left their independent director selections very late.

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