Sheila Nicoll, Schroders

Sheila Nicoll Sheila is Head of Public Policy at Schroders. She has been closely involved in the development of the financial services regulatory system in the UK and Europe since 1982. Before joining Schroders she was a Senior Adviser at EY and from 2007 to 2013 she was at the Financial Services Authority where she supervised the whole range of mid-sized financial services institutions during the financial crisis, before becoming Director of Conduct Policy and part of the leadership team which created the Financial Conduct Authority. At the FSA she led the development of the Retail Distribution Review, the Mortgage Market Review and the review of the Financial Services Compensation Scheme. Previously she was Deputy Chief Executive of the Investment Management Association and held several policy roles at the London Stock Exchange, including before and after “Big Bang”. She is a modern languages graduate and holds a non-executive role as Secretary of the Churches’ Mutual Credit Union as well as being a trustee of the Just Finance Foundation. She is a member of the Board of the European Funds and Asset Management Association and a member of ESMA’s Investor Protection and Intermediaries Standing Committee’s Consultative Working Group. She chairs the UK Investment Association’s Corporate Affairs Committee and is a member of the Council for British Industry’s Financial Services Council.

Special appearance by:


Panel discussion

  • Ann Doherty

    Ann Doherty Managing Director, Regional Sales Executive, Investor Services – EMEA J.P. Morgan


10.55 - 11.40

Looking forward to enhanced cross-border fund distribution

One of the aims of the Capital Markets Union project is to foster growth by reinforcing the role of capital markets, investment funds and asset managers, in the financing of the European economy, too dependent on bank financing. In this context, the European Commission has made proposals to remove the remaining barriers to cross-border distribution of funds. How will these impact the distribution processes?
Will integration help the cross-border investment fund industry to seize the opportunity and contribute more effectively towards economic growth? If so, which are the products and who are the clients?

A debate between the Commission and the industry


11.40 - 12.25

Delegation, "third countries", Brexit... Quo vadis, distribution of EU funds?

Delegation of certain asset management functions to a company’s headquarters, other group companies or specialist third-party asset managers, with the decision-making process and risk oversight remaining in the country from which delegation takes place, is a tried and tested practice in the European and international fund industry.
It is important to third-country asset managers of European funds and it benefits the end investor by providing access to local asset management expertise. Brexit, coupled with the “ESA Review” proposal, have put the delegation model at the core of heated discussions. How are these perceived outside the EU? What is the way forward?

A regulators debate


14.35 - 15.15

Focus on Latin America

Key developments in the region, including recent amendments to pension fund regulations, offer new distribution opportunities for UCITS and alternative fund managers, as well as improved choice for local investors.

A deep dive into local trends and regulatory changes


16.00 - 16.40

Focus on Southeast Asia

The fund and asset management industries in Southeast Asia are growing significantly. The panel presents new opportunities in the region, including in Thailand, Indonesia, Singapore and the Pacific.


16.40 - 17.05

A discussion with NICSA and HKIFA

ALFI talks to its Conference Partners, NICSA and HKIFA, about important developments in their respective markets, amongst others the progress of Asian passporting schemes or FinTech in the US.