Dallas J McGillivray

Dallas McGillivray is managing director of Fleming McGillivray & Co. Limited, the United Kingdom regulatory consultancy that trades as FMConsult. The firm was named Compliance & Operational Risk Consultancy Firm of the Year in the United Kingdom at the 2024 Corporate INTL Global Awards, in recognition of its specialist support to the asset and fund management sector and its long track record in governance, risk and compliance.

FMConsult was founded in 2004 by Jim Fleming and Dallas McGillivray as an independent regulatory, product development and operational risk consultancy. From the outset the firm set out to help financial services businesses align their processes with the expectations of their regulators, and it has concentrated in particular on asset managers and fund managers. Its offering spans governance, risk and compliance, drawing together regulatory advice, product and operational structuring, and the practical implementation of the controls that firms need in order to operate soundly and meet supervisory standards. Over two decades it has become a recognised name among investment firms seeking dependable, sector-specific regulatory support.

As managing director, Dallas McGillivray is responsible for the running of the consultancy business and brings deep expertise in compliance and operational risk management. He has guided the practice as a trusted adviser to investment firms navigating an increasingly demanding regulatory landscape, where the burden of authorisation, ongoing compliance and risk oversight continues to grow. Under his leadership FMConsult built a reputation for combining technical regulatory knowledge with a pragmatic, commercially aware approach to the day-to-day realities of managing a regulated business, an approach that resonates with clients who value clear, workable guidance over theory.

Operational risk and compliance are closely linked disciplines in modern asset management. Firms must not only satisfy the conduct and prudential requirements of their regulator but also manage the risks inherent in their processes, systems and outsourcing arrangements. FMConsult's client work typically involves helping asset and fund managers with regulatory permissions, compliance frameworks, monitoring and the management of operational risk, so that their infrastructure keeps pace with both business growth and regulatory change. That dual focus on the fund management community and on the intersection of compliance and operational risk is precisely what the 2024 award celebrates.

FMConsult's standing in its field was further underlined when the business became part of a larger regulatory and compliance group, extending the reach of its asset and fund management capabilities while continuing to operate under the FMConsult name. For clients, that combination of an established specialist heritage and broader group resources reinforces the consultancy's position as a go-to adviser on compliance and operational risk in the UK investment industry. With Dallas McGillivray at its head, the firm continues to serve investment managers that require experienced, independent counsel on the regulatory and operational demands of their business.