Sally Dewar has written to Sir David Walker expressing FSA’s support for his recommendations and saying FSA plans:

  • to consult on the approved persons function, specifically on NEDs and CF28 function-holders;
  • to make sure firms understand they must tell FSA if they are concerned about movements in shareholdings or activities of shareholders;
  • requiring firms authorised to manage others’ assets to “comply or explain” their stance in relation to the Principles of Stewardship; and
  • to review its internal procedures to ensure it assesses corporate governance risks properly.