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
- Nickeita Ashton, Paycare
- Sue Andrews, OneFamiy
- Marc Bicknell, Railway Enginemen’s
- John Burgum, OAC
- Richard Dickinson, Foresters Friendly
- Steve Dixon, SDA LLP
- Amanda Flanagan, Foresters
- Paul Galloway, Sheffield Mutual (Chair)
- John Gilbert, MMG Advisory
- David Hamilton, LV=
- Bryan Hislop, MDDUS
- Andrew Hubbard, Lumera
- Liz Johnson, Foresters Financial
- Paul Mahon, Cornish Mutual
- Sanjay Mandla, Healthy Investment
- John Midlane, MMG Advisory
- Vicky Morley, The Oddfellows
- Alak Sharma, Cirencester Friendly
- Kara Smith, MetFriendly
- Liz Thompson, National Friendly
- Michael Waghorne, British Friendly
- Edward Westrip, Mazars
- Martin Shaw, AFM