On 16 July 2009, the HM Treasury published an independent review of corporate governance in UK banks and other financial institutions. The UK Government commissioned a review in February 2009 to examine, and make recommendations in relation to, corporate governance in the UK banking sector.
The Review proposes changes in the following areas:
- The board size, composition and qualifications;
- Functioning of the board and evaluation of performance;
- Role of institutional shareholders;
- Risk governance;