UKPGA submission to the Walker Review of Corporate Governance of UK Banking Industry November 3, 2009Posted by ukpga in Consultation responses.
The UKPGA has made a submission to the independent review of corporate governance in the UK banking industry being carried out by Sir David Walker.
The Terms of Reference for the review are to examine corporate governance in the UK banking industry and make recommendations, including in the following areas:
- the effectiveness of risk management at board level, including the incentives in remuneration policy to manage risk effectively;
- the balance of skills, experience and independence required on the boards of UK banking institutions;
- the effectiveness of board practices and the performance of audit, risk, remuneration and nomination committees;
- the role of institutional shareholders in engaging effectively with companies and monitoring of boards;
- whether the UK approach is consistent with international practice and how national and international best practice can be promulgated; and
- whether the recommendations of the review are applicable to other financial institutions.
Full details of the review, including a consultation document issued in July 2009, can be found here.
Submissions to the Walker review can be found here.
Download the UKPGA submission to the Walker review here.