Asset managers will need to overhaul their UK fund boards to meet the FCA's new rules designed to beef up independence, as research reveals firms have a "marked absence" of formalised board practice and procedure.
The inaugural State of the UK Fund Boards 2018 study, conducted by research consultancy UK Fund Boards (UKFB), found just 11% of board members are independent - some way off the 25% the Financial Conduct...
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