View more on these topics

Regulation bucks stops with Kenmir

David Kenmir is the director with responsibility for over 7,500 authorised investment firms which operate in the UK financial service arena.

The buck stops with him when it comes to the regulation of not just IFAs but fund managers, second-tier investment banks and stockbrokers.

He is also answerable to managing director Carol Ser-geant for the FSA&#39s themed projects, this year&#39s projects being harnessing market forces and issues surrounding the ageing population.

Last year, there were four themes – money laundering, the impact of low inflation, treating customers fairly after the point of sale and e-commerce.

Kenmir joined the FSA in 1998, initially as director of authorisation responsible for answering enquiries related to authorisation of both individuals and companies, vetting and registration, product regulation and collective investment schemes.

He shifted gears between November 1999 and April 2001 when he steered the implementation of the FSA&#39s new operating model, the main elements being design of a strategic planning pro-cess, thinking up the new risk rating system which is at the core of how the regulatory regime operates and also acting as Sarah Wilson&#39s boss in the area of mortgage regulation, an area now under Mic-hael Folger&#39s remit.

Prior to 1998, Kenmir was at the SFA as executive director of the authorisation and business conduct division.

This saw him in charge of the soon to be defunct regulator&#39s discipline, authorisation, conduct of business, legal and regulatory information functions. He started his career at the SFA in 1988 as a qualified accountant initially in the surveillance division.

A man who for the most part keeps to the shadows at least in terms of public profile, Kenmir is responsible for much of the central function of the FSA in deciding who will be authorised and what type of business they can conduct.


The future diagnosis

While none of us really expect to live forever, recent research suggests that we should all plan to live longer than previous generations. The same will be true for future generations.A report by Richard A. Miller, Professor of the Institute of Gerontology (USA), estimates that our future lifespan could increase to 112 years, with a […]

CML calls on FSA to delay statutory regulation date

The Council of Mortgage Lenders is urging the FSA to postpone the implementation date for statutory regulation amid fears that compliance technology cannot be developed in time.CML senior policy adviser Kate Main says the regulator must delay N3 – scheduled for next August – because she believes lenders cannot put compliant IT solutions in place […]

Ken Timmins

Lives: Edinburgh.Born: 1948, EdinburghEducation: Falkirk High, Falkirk.Career: 1965-1976 Standard Life pension superintendent, 1976-1984 IFA Bain Dawes (became Hogg Robinson), 1984-1988 Scottish Amicable regional pension manager, 1988-1989 IFA Alan Steel Asset Management, 1989present Ernst & Young Financial Management chief executive.Career ambition: To remain chief executive of EYFM and move the company forward.Life ambition: “To spend a […]

Time right for annuities review, says McDonald

The Retirement Income Reform Campaign called on the Government to announce a consultation on annuities reform in a meeting with Treasury economic secretary Ruth Kelly this week.RIRC director Dr Oonagh McDonald and Sir Nicholas Goodison told Kelly they believed the time was right for a formal review and consultation process.RIRC formally submitted to the Government […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm