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The NACFB’s fully virtual AGM was held on Monday 20th December 2021. Details behind each of the proposed resolutions for this year’s AGM can be found below.
View and download the NACFB AGM 2021 Brochure by clicking the button below.
Ordinary Resolution 1 – To receive and consider the profit and loss accounts and balance sheet and the Director’s and Auditors’ Reports for the year ending 31st December 2020
The first resolution seeks to approve the Association’s year end accounts for December 2020 and the Auditor’s report for the same year. Full details of both can be found in the AGM brochure.
Ordinary Resolution 2 – To approve subscriptions for Members and Patrons for 2022
The second resolution proposes a freezing of Membership fees for 2022. The Association recognises that Members have faced increased costs through rising Professional Indemnity Insurance (PII) and FCA fee outlays.
It is proposed that Patron fees rise by 5%. This modest increase is the first rise for Patrons since 2017.
Ordinary Resolution 3 – To receive and approve the Group Budget for the year ending 31st December 2022
The NACFB Board have proposed a budget for the coming year, full details of which are outlined in the AGM brochure.
Ordinary Resolution 4 – To appoint auditors UHY Hacker Young as auditors for the financial year ending 31st December 2021
Following a tender process, the NACFB Board proposes the reappointment of auditors UHY Hacker Young for the year ending 31st December 2021. The team at UHY Hacker Young have audited the NACFB for the last five years have consistently delivered a high-quality service. UHY Hacker Young are keen to continue their working relationship with the NACFB.
Ordinary Resolution 5 – To elect Directors to the Board for 2022
Four current Board Directors have come to an end of their elected terms. There are seven positions available on the Board and, as is customary, all eligible Members were invited to put themselves forward for nomination.
After the voting concludes, seven of the eight shortlisted NACFB Members will join the Board as non-executive Directors.
The new Member Directors will be appointed for a period of 12 months as the Association looks to implement a revised structure for Board Director tenures from 2023.
The Board approved a three-year extension for Independent Director Lieutenant Colonel Russell Lewis and a one-year extension for Finance Director David Newborough FCA (Chartered Accountant), FCCA, BSc. The Chair and Vice Chair remain on the Board alongside the Association’s Managing Director.
The Board approved the appointment of two new Patron Directors, Managing Director for Intermediaries at Allica Bank, Nick Baker, and Sales Director at Haydock Finance, Andy Taylor. They replace Deputy CEO at JLG Group, Martine Catton, and Head of Broker at NatWest Commercial Banking, Dave Furnival, who have both come to the end of their elected terms.