The Basel Committee on Banking Supervision has issued a revised guidance to help promote the adoption of sound corporate governance practices by banking organisations and has called for comments on the document. Entitled Enhancing Corporate Governance for Banking Organisations, it builds on guidance published by the Committee in 1999. Mr Jaime Caruana, chairman of the Basel Committee and governor of the Bank of Spain, said: “Effective corporate governance is essential to maintaining public trust and confidence in the banking sector, and provides a crucial anchor for sound risk management practices.” The paper highlights the importance of effective management of conflicts of interest; the role of boards of directors (with greater emphasis on the role of independent directors) and senior management; the role of internal and external auditors and other control functions; governing in a transparent manner; and the role of supervisors in promoting sound corporate governance. In addition, the paper presents some considerations for corporate governance related to the activities of banking organisations that are conducted through structures that may lack transparency, or in jurisdictions that pose impediments to information flows.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.