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;
  • Remuneration.