Restoring trust in UK boards

Why you should watch: As the UK government considers reforms aimed at “Restoring Trust in Audit and Corporate Governance”, we talk to two of the UK’s leaders in governance, banking and asset management, Sir Win Bischoff and Baroness Helena Morrissey, about the proposals. These include a UK version of the Sarbanes-Oxley Act, which requires CEOs and CFOs to sign up to the efficacy of internal controls, and a potential sanctions regime for directors. While aiming to prevent accounting scandals and corporate failures appears laudable, how inhibiting might the extra responsibilities and liabilities be for board members? Might it put off the very candidates needed to make boards more diverse? Shareholder protest votes, stakeholder engagement and the time commitment of directors are also debated in this governance special.

Moderator: Jane Fuller, co-director, CSFI

Speakers:

Winfried Bischoff: Sir Win chaired the Financial Reporting Council until October 2019. His previous chairmanships include Lloyds Banking Group, Citigroup Inc in the wake of the financial crisis and Citigroup Europe. At Schroders, which he joined in 1966, he became CEO in 1984 and later chairman.

Helena Morrissey: Baroness Morrissey was chief executive of Newton Investment Management until 2016. Since then she has served on the boards of Legal & General Investment Management and St James’s Place, and is chairman designate of AJ Bell, the investment platform. She established the 30% Club to campaign for women on boards, and is author of a book entitled A Good Time to be a Girl.


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