The Association of Corporate Treasurers (ACT) has made an ‘uncompromising’ response to the Higgs consultation document on non-executive directors. The Association said UK treasurers advocate a rigorous approach to the issues around the independence of non-executives: ‘Within the unitary board, the position of the independent non-executive is vital and there should be a more rigid definition of ‘independent director’; the Chairman should be an independent non-executive director, as should the majority of the board; and the exception in the Combined Code, which permits the roles of Chairman and Chief Executive to be held by one individual, should be abolished.’ The ACT supports the concept of independence used in the Combined Code, that non-executive directors ‘be free from any business or other relationship which could materially interfere with the exercise of their independent judgement’, but go further in requiring that they be ‘independent of management’. Individuals associated with suppliers, such as financial institutions, should not be regarded as independent – a point which has not been accepted sufficiently widely.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more