It’s clear to me that the pre-FTX collapse EVF board, at least, needed more “lawyers/accountants/governance” expertise. If someone had been there to insist on good governance norms, I don’t believe that statutory inquiry would likely have been opened—at a minimum it would have been narrower. Given the very low base rate of SIs, I conclude that the external evidence suggests the EVF UK board was very weak in legal/accounting/governance etc. capabilities.
It’s clear to me that the pre-FTX collapse EVF board, at least, needed more “lawyers/accountants/governance” expertise. If someone had been there to insist on good governance norms, I don’t believe that statutory inquiry would likely have been opened—at a minimum it would have been narrower. Given the very low base rate of SIs, I conclude that the external evidence suggests the EVF UK board was very weak in legal/accounting/governance etc. capabilities.