The financial crisis of 2008/10 revealed some alarming deficiencies in the governance of firms in the “regulated sector”. Of particular concern to the Regulator was the contribution to good governance of Non-Executive Directors (NEDs) and especially the Independent NEDs (INEDS).
This briefing seeks to focus on the key role of the INEDs, what regulators expect of them and will point to the critical on-going relationship between the Board/Executive Body, Senior Management and all in the firm, whether they are from the EU or elsewhere, i.e. “the tone from the top”.
The session will further attempt to provide an update on UK regulators’ latest guidance and policy statements and their impact on INEDs in addition to the obligations on all Directors under the UK Companies Act and Conduct Codes. As the former CEO of the FCA put it:
“This is about the importance of individual decision making and behaviour. We must recognise and learn from cases where decisions are being taken effectively, behaviours are good and firms are building a sustainable culture of responsible behaviour.”
- Give an overview of Directors’ responsibilities under the Companies Act, Codes of Corporate Governance and the FCA and PRA;
- Describe the impact on firms of the Basel Committee’s “Revised Principles on corporate governance”
- Outline FCA / PRA expectations of NEDs and INEDs;
- The current UK regime
- Regulatory expectations
- Culture and the INEDs place in these;
- Practical advice for current and future INEDs
- The potential downsides
Course aimed at: Senior Management/Executive Directors/Non-Executive Directors/Compliance Officers/Internal Auditors
This course can be delivered onsite or as an instructor lead course at a firm’s office.
If you would like to discuss your training requirements in more detail please contact Graham Dix on +44 (0)20 7484 3987 or your usual ACA consultant.