Educating the British on independent fund governance

Reaction to the FCA’s two independents per fund proposal has been almost universally positive. There is no reason to believe that it will not be implemented. (The only comments that have not been wholly supportive have come from those that don’t think these proposals go far enough.) From what The NED understands the FCA’s independent director requirement should become official policy well within a year. That should be confirmed this autumn.

Assuming this proposal does go through who is likely to be selected to fill all these new independent board positions? The UK has no reservoir of non-executive fund directors to select these people from. Independent fund directors are not common in the UK.

To read more on this story see the July issue of The NED.