Myners review update imposes extra standards

In an interim review of investment management processes, several areas of found lacking so revised proposals had been unveiled. Among the key points raised: The Treasury feels it is the responsibility of the chair of the board to ensure trustees taking investment decisions are familiar with investment issues and the board has sufficient trustees for that purpose; Where funds have more than 5,000 members, the chair of the board and no less than one-third of trustees should be familiar with investment issues; Funds exceeding 5,000 members should have access to in-house investment exp...