Law and Regulation
Geoffrey Yeowart, Robin Parsons, Edward Murray and Hamish Patrick
Iris H.-Y. Chiu, Michael McKee, Anna P. Donovan, Rod Edmunds, Andreas Kokkinis, John Lowry, Marc T. Moore and Arad Reisberg
This chapter will deal with the role and composition of boards of banks in five sections. Section 1 will set out the relevant company law. Section 2 will address the relevant principles of corporate governance and their expression in the UK Code of Corporate Governance. Section 3 will cover the regulatory overlay deriving from the Financial Services and Markets Act 2000. Section 4 will assess the various reviews of the banking failures of 2007/8 and what has been learnt that is relevant to the topic. Section 5 will consider what, in the light of the reviews, might or should change in the future.