How much impact can independents make on fund boards if they are not in control of them? The question of the role of independents has come up a lot recently. This happened, in part, because of the FCA’s reforms to the boards of Authorised Fund Managers in the UK.

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Who makes a better independent: a professional director, who is probably younger and keener, or an amateur, who is likely to be doing this in early retirement?

Speaking at The NED’s event in London in April Reggie Dodge, Chief Compliance Officer & General Counsel at EMSO Asset Management, said that she prefers to appoint independent directors who are not taking on directorships as a full-time career. It means that there is less of a chance that they will be conflicted, she believes.

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