Regulation and Governance

Key responsibilities

  • To maintain clear objectives for the way it responds to and seeks to influence regulation as it affects 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 changes in 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

  • Sue Barraclough, Westfield Health
  • Marc Bicknell, Railway Enginemen's 
  • Christopher Critchlow, OAC 
  • Chris Davidson, Foresters Friendly
  • Paul Dixon, Dentists' Provident
  • Steve Dixon, SDA LLP
  • John Gilbert, MG Advisory
  • Andrew Horsley, Cirencester Friendly
  • Paul Mahon, Cornish Mutual
  • John Midlane, Metropolitan Police
  • Gary Morley, The Oddfellows
  • Sarah Ratcliffe, Kingston Unity
  • Sandy Richards, National Friendly
  • Mark Smith, Holloway Friendly
  • Mark Turner, Duff & Phelps
  • Edward Westrip, Mazars
  • Robert Wharton, Keystone Law
  • Martin Shaw, AFM