What banks should do now
The article presents information on the Walker Review by former Morgan Stanley chairman David Walker. The review focuses on the 2008-2009 global financial crises and offers guidelines for effective corporate governance of the British banks and other financial institutions (BOFIs). Walker made 39 best practice corporate governance recommendations in the review.
In the line of fire
The article discusses the proposals resulting from Sir David Walker's review of banking corporate governance, such as risk committees at the board level and transparency on staff pay.
Walker Review raises non-exec doubts
The article discusses the concern raised by British accountants over the mandatory overtime of non-executives
proposed by The Walker Review.
More activism essential with financial firms
The article focuses on the report "Review of Corporate Governance in U.K. Banks and Other Financial Industry Entities." Sir David Walker, senior adviser to Morgan Stanley and author of the report, said proposals are designed to improve the professionalism and diligence of bank boards, raising the importance of challenge in the board environment. It produced 39 recommendations, including developing institutional shareholder principles of stewardship, sponsored by the Financial Reporting Council.
Articles and books in the Library collection
Corporate governance handbook
Chambers, A. (Bloomsbury Professional, 2014, 1099 pages)
This book advises on functioning within the legal, ethical and practical parameters of corporate governance. Part D, corporate governance in practice, has a chapter on the Walker Review of corporate governance in UK banks and other financial industry entities.
All for one?
Chartered Secretary, September 2010, pages 31-33
Considers the difficulties of corporate governance for an international group including 25 locally incorporated subsidiaries post-Walker review. Looks at the experience of Standard Chartered Bank.
Internal Auditing, February 2010, pp.18-23
Companies will have to implement some important changes to their corporate governance practices in 2010, writes the author. Internal auditors should be at the forefront of developments, but will need to seize the opportunities. Includes discussion of the Walker Review and the proposed new Combined Code: two responses to the credit crunch and financial crisis.
Sharing the burden : a fresh look at corporate governance
FS Focus, April 2010, pp.14-17
Author explains what the Walker report means for institutional shareholders. He looks at the current framework for institutional shareholders (shown in a table) which has been found to be deficient in the financial crisis. He then looks at the detail of the recommendations in the Walker report (shown in a table) and considers what motivates institutional investors; engagement with the company; the role of the chairman and the SID (senior independent director); collaboration; and stewardship.
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