The FCA published its Final Report into the UK’s £7 trillion asset management industry at the end of June. The biggest change proposed is that the UK funds should have at least two independent directors– and that 25% of the board should be independent, at minimum.

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If the FCA’s remuneration estimate is correct and an independent director were to take on say 15 board appointments for an average compensation of £32,500 their annual earnings would be £487,500 (or $634,000). And many will be getting well in excess of £500,000, based on the FCA’s estimates.

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