From a cybersecurity risk governance perspective, the FSC will expect as a minimum from the Management Companies the following: understanding of the cyber risks, vulnerabilities and impact associated in running their businesses, with supporting documentation; putting into place appropriate policies and procedures duly approved by the board to mitigate the risks; carrying out an annual […]

THE government did not comply with the law when it attempted to withhold information on chief executive Charlie Parker’s employment contract, the information commissioner has said. In a decision announced yesterday afternoon, the information commissioner, Dr Jay Fedorak, said that the Chief Minister’s Department had made an unauthorised attempt to stop information on Mr Parker’s […]

On 20 July, the Financial Reporting Council (FRC) published a report on the results of its study of the relationship between corporate culture and long-term business success in the UK, ‘Corporate culture and the role of boards’. The FRC explains in its press release: ‘stakeholders and society in general have a vested interest in healthy […]

Andrew Bailey, deputy governor, prudential regulation and chief executive officer, PRA, has given a speech at the Westminster Business Forum on the role of governance and boards in the prudential supervision of deposit takers, insurance firms and major investment firms. Mr Bailey outlined three of the PRA’s expectations of boards: to exercise good judgement in […]

There is no specific model for corporate governance that must be applied to Jersey-based investment funds. Codes of practice issued (or to be issued shortly) by the Jersey Financial Services Commission (JFSC) (the Jersey codes) require that both a Jersey-regulated corporate fund and a Jersey-based fund service provider (for example, manager, administrator, custodian) must have […]

On 05 March 2015, the Financial Conduct Authority (FCA) published a Thematic Review containing the findings of its discovery work, based on finalised guidance (published in 2012) into structured product development and governance. The FCA has continued to review how firms in both the retail and wholesale markets were developing new structured products. The thematic […]