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Regulation and Governance

Key responsibilities

  • To maintain clear objectives for the way it responds to and seeks to influence regulation as it affect AFM members, and to assess each year how well it has delivered against those objectives;
  • To consider Consultation Papers, Discussion Papers, Policy Statements and other documents from PRA and FCA or other regulatory and government agencies, and to prepare responses as appropriate that further understanding, and appropriate regulation, of financial mutuals, and of the needs for proportionality;
  • To monitor the implementation of Solvency 2 and the equivalent for non-directives, and to changes on associated disciplines, including accounting and audit;
  • To support the AFM in promoting and enhancing the highest standards of governance in financial mutuals, and to oversee the compliance exercise for the Annotated Corporate Governance Code, as well as to make recommendations to the Members on changes to the Code;
  • To attend meetings with regulators as necessary to represent the interests and relevance of financial mutuals;
  • To produce regular updates for members.

Current members

  • Alan Goddard, Cornish Mutual (Chair)
  • John Midlane, Metropolitan Police
  • Andrew Horsley, Cirencester Friendly
  • Gary Morley, Odd Fellows
  • Sandy Richards, National Friendly
  • Ayo Salam, British Friendly
  • Sarah Nichols, Benenden Healthcare
  • Lisa Staker, Steve Dixon Associates
  • John Gilbert, Hogan Lovells
  • Cara Spinks, OAC Actuaries and Consultants
  • Ray Tidbury, Mazars
  • Robert Wharton, Keystone Law
  • Martin Shaw, AFM