In March 2000, Paul Myners was commissioned by HM Treasury to conduct a review of institutional investment in the UK. Myners' report "Institutional Investment in the United Kingdom: A Review" was published in 2001 and it contained several principles for institutional investment decision making: the "Myners Principles". These were last reviewed in 2004. Earlier this year, HM Treasury held a consultation to consider whether the principles required updating. The Government's response has now been published and reforms are underway. An independent Investment Governance Group has being formed under the chairmanship of the Pensions Regulator. The Group will take responsibility for the content and implementation of the revised principles, associated guidance and best practice.
Note: Paul Myners was ennobled earlier this year and, as Lord Myners, is Financial Services Secretary to HM Treasury.
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