UK: vetting bank directors

Today's Financial Times newspaper reports: "The City is to revive some of its old ways of doing business by setting up a regulatory committee to vet the appointment of directors to Britain’s banks. According to people close to the process, experienced bankers such as Sir Brian Pitman, the former chief executive of Lloyds, and Sir Peter Middleton, a former Barclays chairman, have been lined up by the Financial Services Authority to serve on the committee. The FSA aims to have the new panel operating by the end of the year".