Bank Governance


Current UK banking legislation requires every director, controller or manager to be a fit and proper person to hold the particular position which he holds. Regard is had to probity, competence, diligence, soundness of judgment and oppressive or ‘improper’ business practices. There is a conflict between profit motivation and acceptable banking practice.
The nub of the reforms now required is: (a) the protection of depositors; and (b) promotion of the UK economy by ensuring that retail deposits are used to finance UK businesses and house purchases. It is unacceptable that protected deposits are used to fund investment banking speculations. These may be profitable but are akin to gambling with taxpayer’s money.
For a fuller discussion on Bank Reform go to http://www.risklibrary.net/abstract/heading-bank-uk-law-vs-prudential-risk-assessments-14075

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One Response to “Bank Governance”

  1. Per Kurowski Says:

    “L´economia castrata”? That is what you get when bank regulators discriminate against the “risky” http://bit.ly/1wj8V

    Like

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