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Madison CF UK Limited s172 Statement

The Directors take their responsibilities to shareholders and stakeholders very seriously. The Board comprises both member nominated and independent Directors to provide representation of both member and other stakeholder interests in its decision making. In 2021, the Company continued to enhance its risk management by further developing its robust Risk Management Framework that is overseen by the Enterprise Risk Management Committee and ultimately the Board. The Board held virtual strategy days throughout the year and reviewed the business plan for the Company, creating a clear vision against which to assess the consequences of their decisions in the long term. This vision has been shared with the Company's and Group employees through a series of interactive town hall meetings.

The Directors have identified the Company’s regulator, in particular the FCA, as key stakeholder and receive reports at every Board meeting on the Company’s engagement with the FCA. The Directors oversee a planned programme of regular reviews of the Company’s policies and processes to ensure that its compliance frameworks drive high standards of business conduct.