It’s full steam ahead for FCA’s proposals for independent directors. The feedback that the regulator received to its consultation on this topic shows widespread agreement with the plans it outlined on June 28, which were covered in The NED’s July issue.

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Assuming there’s a low limit on the number of board positions an independent director can have the FCA’s reforms may not turn out to be the bonanza that some NEDs had hoped for, including in places like the Channel Islands and Ireland. (And The NED understands that it is likely the FCA is not going to allow anyone more than eight fund directorships.) Nonetheless the upcoming changes in the UK will still have an impact on governance in all offshore and EU fund jurisdictions.

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