![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_OoFgZDOaX65rndoX4Rh4lexRDyBX722WpomKG4GRnli3pEEkZCbOjwdqS7oxaOEs1eqITokfLAgf_cZc2668VgsaAebSx5wEGqU5cUfv2YMa7CqqOIu3Dls54LSe7-fwtk3d3bf9EhxY/s610/uk-lgflag.gif)
The
Upper Tribunal (Tax and Chancery Chamber) gave judgment yesterday in
Burns v Financial Conduct Authority [2014] UKUT 0509 (TCC): see
here (
pdf). The Tribunal held that Mrs Burns was not fit and proper to hold a non-executive director position. She had, the Tribunal held, "turned a blind eye" to various ethical issues concerning conflicts of interest.
In its decision, the Tribunal commented on the role of the non-executive director (at para. [121]): "It is a sensitive function. Non-execs often have wide-ranging business interests. A non-exec position requires rigorous adherence to the proper standards concerning avoidance of conflicts and the making of disclosures".
No comments:
Post a Comment