Consumer Duty Conference 2023

David joined PIMFA in November 2022 as Director of Government Relations and Policy. He is responsible for PIMFA’s relationships with governments and regulators and regulatory and supervisory policy.

Before joining PIMFA, David spent 16 years working across financial services change and policy, including four years as the Director of Technology and Operations at the Association of Financial Markets Europe (AFME). Earlier in his career, David worked at PwC in investment management and technology advisory.

Therese Chambers began her career in private practice in the City as a commercial litigator. She has spent 20 years in UK regulatory enforcement at the FCA and FSA, running investigations and conducting litigation in relation to some of the most high profile, complex and challenging regulatory enforcement cases. She is an acknowledged expert on UK financial services regulation and her experience and expertise covers the full range of the FCA’s jurisdiction. Most recently, she was Director of Retail Investigations, responsible for the FCA’s retail investigations portfolio, which includes anti-money laundering, pension scam and misselling investigations. Since January 2022 Therese has been the Director of Consumer Investments, responsible for leading the FCA’s work to protect consumers from the harm caused by scams, poor investments and unsuitable investment advice. Therese is also responsible for the delivery of the FCA’s Consumer Investments Strategy.

Angela is a financial services regulation expert with a main focus on investigations and enforcement defence but also with an advisory practice.

Angela has more than 20 years’ experience advising clients across the spectrum of financial services –  banks (investment and retail), asset managers and investment funds, securities brokers, wealth advisers, insurers, and listed companies.  Angela is well known for her particular expertise regarding market abuse, financial crime and regulatory issues impacting the asset management sector.

Angela’s career has included 12 years as a partner in the London offices of leading US law firms.

Angela has led many major regulatory investigation and defence projects, including coordinating cross-border multi-jurisdictional matters, involving the PRA, FCA, SFO, DOJ, SEC, NY DFS and other regulators in Europe and around the globe.  These cases have covered a wide range of issues but include complex market manipulation, investment and trading errors, transaction reporting, fraud and allegations of bribery and corruption.  Angela has also assisted many clients with internal investigations and dialogue with regulators, where the facts found have enabled clients to avoid regulatory enforcement action.  Most recently this has included issues raised by whistleblowers and culture/conduct issues.

Angela’s advisory practice includes conduct risk mitigation,  corporate governance and the senior manager and certification regime, advising on the launch of new products and new businesses (including obtaining authorisation for a new bank and a new life assurance company) and transactional support, including the acquisition of wealth and asset management businesses and Part VII transfers of insurance business.

Mathew has experience of a wide range of regulatory issues as they affect life and general insurers, brokers, banks, wealth managers and other financial institutions. His areas of expertise include prudential and conduct of business regulation, market abuse and insider dealing issues, the Bribery Act, money laundering, financial promotions, consumer credit, TCF, unfair terms in consumer contracts and MiFID.

He regularly advises on transactions in the regulated sector, including Part VII transfers, and on change of control issues. He also advises on new authorisations and perimeter issues over whether authorisation is required.

Also, Mathew advises regulated firms on corporate matters, such as outsourcing arrangements, joint ventures, and shareholders or LLP agreements, and on corporate governance and the application of the UK’s Senior Managers’ Regime to banks and insurers.

In 2014, he also acted on the first successful judicial review of the Financial Ombudsman Scheme in over ten years.

Mathew regularly writes articles and gives talks on regulatory issues, and has appeared on radio and television discussing regulatory developments.

Endorsements

“DAC Beachcroft LLP’s team head Mathew Rutter has ‘incredible knowledge of insurance regulatory issues’.” Legal 500 2016, Financial services (non-contentious/regulatory)

Mike is consulting director, and sole-proprietor of the lang cat Isle of Wight office. A driver and survivor of platform mergers, migrations and RDR he held a number of senior roles at Skandia and Old Mutual Wealth. He is now working with platforms, advisers, banks and asset managers to help them create and communicate in a way that is a little less corporate and a little more human.

Tracy joined City Asset Management in 2012, after qualifying as a solicitor at Freshfields in 2006 and subsequently spending 10 years on the equity trading floor at Morgan Stanley. As a member of the Risk and Compliance team at CAM, Tracy particularly enjoys client interaction and spearheads a number of regulatory initiatives, including vulnerable persons and consumer duty. Tracy has 3 teenage daughters, 2 dogs and 2 guinea pigs and enjoys cooking for them all.

David Owen, The Openwork Partnership.  London Institute of Banking and Finance REAP member, PIMFA Consumer Duty council member, Wealth Proposition Director and podcaster, amongst other things.  Joined the industry and now profession in 1987 and has held several roles at Legal & General, HSBC Global Asset Management and Lifetime Connect.

Ian started his career in Banking and has subsequently worked in the Asset Management, Insurance and IT world. Ian is responsible for the day-to-day running of our business.

A highly experienced Senior Leader having achieved a successful career at Director level within the financial services sector, delivering enhanced customer experience and retention through transformational cultural change and innovative digital solutions with commitment to total quality; proven experience of leading, coaching & mentoring diverse operational teams in a complex and regulated environment with international reach, designing and implementing innovative strategies, building key relationships, and influencing at Board level.

• International Key Note Speaker (WeAreTechWomen, CX foundation – Maldives & Digital Mobility Exchange – Berlin)
• British Quality Foundation award winner for the work on Proactive Customer Experience.

With over 20 years of experience in Financial Services, 15 of which has been within Wealth Management, Shelley has first-hand and consulting experience helping organisations across a wide range of transformational change. This includes, digital transformation, proposition strategy and development, client engagement, Wealth Adviser enablement, regulatory and corporate governance change, target operating model design and implementation.

Prior to KPMG, Shelley was a Partner at Sionic within their Wealth Management and Private Banking practice. Before her consulting career, Shelley worked at UBS Wealth Management where she held a number of leadership roles. Prior to UBS, Shelley founded an organisation which advised and supported corporate clients with their employee share plans.  Earlier in her career Shelley worked as a corporate governance professional in various industries including, Oil & Gas, Broadcast Media, Retail and Telecoms.

Shelley is a Chartered governance professional and earned her MBA from Bayes Business School, City University London (formerly Cass Business School). Shelley is an active advocate for diversity and inclusion. She is deputy chair of the London Institute of Banking and Finance.

I joined the financial services industry in 2002. With nearly 20 years of experience, I have been proud to assist clients with their financial goals through education, wealth planning, and risk management.

Prior to joining NICE, I was a Financial Consultant with Fidelity Investments, where I helped retail and HNWI clients define their financial goals and provided them with financial planning concepts and solutions to meet those goals. Before Fidelity, I served around ten years at TIAA, where I worked on the institutional side of the business for four years and the Wealth Management space for around six years. During my tenure at TIAA, I was a part of projects and pilots catering specifically to DOL and Suitability changes, including regulatory requirements and user interface. Before joining TIAA, I was a Financial Advisor with Wells Fargo Advisors for two years, responsible for the Wealth Management offering out of 5 offices. I began my career as a Financial Advisor at Banc of America / Merrill Lynch for around seven years. While at BA / ML, I was responsible for running a Wealth Management practice across six offices.

I earned my bachelor’s degree in Finance from New Jersey City University. I also hold a Series 7, 63, and 65, along with Life & Health Producers license from the state of New Jersey. I have completing part of the course work for the CFP designation.

On a personal level, my family and I live in West Caldwell, NJ. I enjoy spending time with my wife Heather, son Derek, and daughter Cielo.

Philip has broad and deep expertise of the retail conduct landscape – and from differing perspectives. He has had roles in industry, spent time at the regulator and worked for a number of consultancy firms.  He has over 25 years of experience in compliance, conduct and culture across insurers, IFAs and Wealth Managers, asset managers and platforms from his time in industry, supervising them at the FCA as well as assisting them via consultancy support. These roles have assisted firms in the identification and mitigation of conduct risks and issues arising from the FCA’s evolving regulatory expectations – both in relation to manufacturing and distribution. As a result of this experience and expertise, he is driving KPMG’s Consumer Duty proposition as well as supporting firms with their implementation

Simon specialises in complex litigation, contractual disputes and advising clients who have been the victims of fraud of their civil remedies (securing assets and valuable information by obtaining injunctions arising from the misuse of confidential information, breaches of restrictive covenants and the loss of data).

He has over 16 years’ experience advising clients across a range of sectors including financial services, telecoms and health. His key clients include Equifax (for whom he acts as the firm’s Client Relationship Partner), Quilter, Western Union and Zurich.

Simon works closely with clients to help them achieve a commercial resolution to any given dispute. Having spent time on various secondments, Simon appreciates both the demands on in-house counsel and the importance of providing clients with commercial, succinct and practical advice.

Relevant experience includes:

• Acting many times as an independent supervising solicitor, appointed by the Court to explain to the respondent of a Search Order what it means in everyday language (usually having received the Order the previous day), supervising the applicant’s search of the premises and dealing with issues arising on the day. In TBD (Owen Holland) Limited v Andrew Simons & Ors [2020] EWHC 30 (Ch), the High Court Judge endorsed Simon’s actions as the Supervising Solicitor of a Search Order, describing his conduct as “sensible”, “pragmatic” and “appropriate”, faced with an “unworkable” key provision of the Search Order.
• Successfully acting for Equifax in litigation in which the Court of Appeal – Keith Smeaton v Equifax Plc [2013] EWCA Civ 108 – agreed that a credit reference agency, such as Equifax, does not owe a common law duty to members of the public simply by choosing to operate a business by which they maintain and amend a credit file on virtually every adult in the UK.
• Successfully acting for AXA on the preliminary issue of limitation, such that the High Court agreed that the claim was time-barred: Matthew Carroll v AXA Sun Life Services Pl [2010]EWHC 2233.
• Advising a telecoms business facing a claim for damages of £7 million and the threat of injunctive relief. He successfully turned the situation around into a positive commercial settlement for the client by which it obtained further licence fees of £2 million and the smooth transition to an orderly termination of the contract involving many end users.
• Regularly defending IFAs, appointed representatives and their principal firms in complaints to the Financial Ombudsman Service and in court proceedings, including on behalf of insurers.

Alex joined PIMFA in June 2017 as a Policy Adviser, where she works on a wide range of regulatory matters, engaging with policy makers and the regulator to promote members’ interests.

She previously worked for the Association of Professional Financial Advisers (APFA) in the same capacity. APFA merged with the Wealth Management Association (WMA) to form PIMFA.

Alex has a legal background, having studied law at Cambridge University and was called to the Bar in 1997. She was a tenant at Lamb Chambers, Temple where she specialised in personal injury claims, contractual disputes and professional negligence. Alex has experience of advisory, drafting and court work including appearances in the Court of Appeal, the High Court and county courts.

Simon joined PIMFA in November 2017 as a Senior Policy Adviser with a focus on public policy and long term savings. He has previously worked at the National Employment Savings Trust (NEST) and the Treasury in a variety of roles working on a number of issues including automatic enrolment, pension freedoms and the UK’s response to the financial crisis.

Simon has a strong interest in long term savings issues with a particular focus on overcoming behavioural barriers and the support structures that can be put in place in order to help and encourage a thriving savings culture in the UK.