Tuesday, 25 October 2011

UK: regulators, boards and shareholders - comments from the FRC's chairman

Earlier this month the chairman of the Financial Reporting Council, Baroness Hogg, delivered a speech at the Sarasin and Partners 6th Annual Responsible Investment Seminar. A copy of the speech is available here (pdf) and a webcast is available here (along with webcasts of the other seminar contributors, including Bob Monks). Baroness Hogg used part of her speech to consider the role of regulators and stated that it was "crucial that regulators do not usurp the role either of shareholders or of boards ... we obscure the responsibilities of directors (and for that matter, auditors) to shareholders at our peril".

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