View more on these topics

Lord Myners flags up gaps in Sir Walker review

City minister Lord Myners has flagged up a number of areas that need greater consideration within Sir David Walker’s review into corporate governance in banking.

Speaking at the NAPF conference in Edinburgh today, Lord Myners addressed a number of key issues which need to be addressed in Sir Walkers’ review.

Myners said: “Some of the areas I hope Sir David will explore include whether we should place an additional legal obligation of bank directors and senior executives to have regard in their activities of promoting and maintaining systemic financial stability.”

He also questioned whether the director of risk should have a separate independent reporting line to the board, whether non-executives should be required to have professional qualifications related to banking and whether there is a case for non-executives having dedicated support to help them assert their responsibilities when necessary.

He said: “I think there is a strong case for reviewing appointment of an independent specialist adviser to the audit committee.”

Myners also drew attention to how much time non-executives should be expected to spend performing their roles, and their rewards. He also suggested that Walker should consider whether statutory reporting on remuneration should be extended to non-board positions providing greater insight into the culture and behaviours of the group it is seeking to promote.


Deals for home insurance

Home and contents insurance provider Uinsure has struck distribution deals with Positive Solutions, Tenet, Money Portal, Openwork and Intrinsic.

Identity crisis

So, the Norwich Union ads tell us, Aviva is who they always wanted to be. It is their lost identity, their true selves, their very soul. Ironic that the campaign includes an American actor who believed Bruce Willis was an improvement on his real name. Good job he was tough.

Life without the FSA

Will the FSA be the next institution to fall? A new report for the Tories by a former adviser to Alistair Darling, Sir James Sassoon, suggests huge reform at least and wholesale replacement at most.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm