FBC Digital Event: Consumer Duty – New FBC Research, and panel with the FCA
10 June 2024, 2 – 3.30pm UK time
With many firms putting the finishing touches to their first annual Consumer Duty (CD) review report, FBC has been exploring how authorised fund managers (AFMs) have been implementing CD. Our research has included the role of the fund board, the CD champion and what sorts of management information (MI) is being used to monitor whether good customer outcomes are being achieved.
FBC senior adviser, Brandon Horwitz, will present the key findings from this research followed by a panel discussion with the FCA’s Chris Douglas (responsible for supervising a portfolio of large and medium sized asset managers), and M&G’s Laurence Mumford (chair of the fund board).
About the research
The new FBC research focuses on the implementation of the Consumer Duty by authorised fund managers, including highlighting good practices and challenges to help fund boards further enhance their Consumer Duty oversight. Some of the key aspects that will be presented at this digital meeting include:
- Fund board involvement in Consumer Duty work (including role of the CD champion)
- Considering the needs of vulnerable customers
- MI to monitor if funds are reaching their target market (including distributor feedback)
- Evidencing customer understanding and support
- Impact and actions arising from Consumer Duty
- Gaps and planned enhancements to Consumer Duty reporting
Members of FBC can register for this event here.
Contributors
Brandon is Fund Boards Council’s Senior Adviser, involved with developing FBC’s Assessment of Value analysis and assurance model for its members and leading FBC’s new proposition – offering bespoke training and coaching for boards and executives.
He is also the principal of NomBon Consulting and an experienced actuary and independent director, providing consulting to insurers, asset managers, banks and wealth managers on investment and pension proposition design, delivery, governance and distribution strategy.
Laurence Mumford is Distribution Governance Director for M&G. Headquartered in London, M&G distributes a range of Retail and Institutional products globally, operating from offices across Europe, America and Asia.
Laurence has been a Board member of M&G Securities Limited (MGSL) since 2004 and currently Chair. MGSL is the ACD for M&G’s range of OEIC mutual funds, which currently consist of approximately 55 sub-funds with £35bn assets under management. Day-to-day responsibility is focussed on governance and regulatory control to support the product offering and distribution teams.
Laurence is also Chair of the fund Boards for two M&G UCITS SICAVs which have growing importance to M&G in the post BREXIT set-up.
Laurence is a chartered accountant and joined M&G in 2000 having previously worked at PricewaterhouseCoopers.