Investment Fund Governance, Independent Fund Directors and Investor Protection

This event was co-organised by UCL Centre for Ethics and Law and Institute of Directors Centre for Corporate Governance and took place online on Thursday 12 October 2021.

About this event

The UCL Centre for Ethics and Law, in partnership with the Institute of Directors Centre for Corporate Governance, is hosting a discussion workshop on the future of investment fund governance, highlighting the role of independent fund directors on fund boards.

A minimum number of independent fund directors was required to be appointed to mutual fund boards from 2019, principally to monitor fund boards’ assessment that value for money is secured for investors in the fund. Although this monitoring institution was newly introduced in the UK’s financial regulation framework, a similar institution has been in operation in the US since the 1940s. The Financial Conduct Authority carried out a survey of the efficacy of fund boards’ ‘value for money’ assessment and the role of independent directors earlier this year and found many areas in need of improvement. This discussion workshop critically discusses the expectations for independent fund directors as an institution of fund governance in order to meet regulatory objectives that intend to secure investors’ welfare.

The workshop is chaired by Dr Roger Barker, Director of Policy and Governance, Institute of Directors. The Panel of speakers includes Dechert LLP Partner Richard Frase and National Partner Mark Dillon, who will provide observations and practical examples in relation to the challenges to fund governance and compliance, Professor Blanaid Clarke, Trinity College Dublin, who will focus on the Irish experience with independent fund directors and Professor Iris H-Y Chiu, University College London, who will present a paper on comparative insights from the US regime and lessons for the UK, jointly authored with Dr Roger Barker.

The chair and speakers

Roger M Barker (Institute of Directors (UK)) - Chair

Richard Frase (Partner, Dechert LLP

Mark Dillon (National Partner, Dechert LLP)

Blanaid Clarke (Trinity College Dublin)

Margaret Cullen (Institute of Directors in Ireland)

Iris H-Y Chiu (UCL)
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