Following their survey of over 3000 individuals across 13 financial services sector employers, the Financial Services Culture Board (FSCB) and the Financial Services Skills Commission.
Dame Colette Bowe has been reappointed as an external member of the Financial Policy Committee, the Chancellor of the Exchequer, Rishi Sunak has announced.
The only other person filling four roles on public boards is Ann Allen, the CEO of the Chartered Institute of Civil Engineering Surveyors (CICES). While she is not remunerated for work as a board member of the National Museums of Scotland (NMS), she receives £9,600 as Chair of the Architecture Design Scotland Board, and £7,800 working two days per month as a board member of the influential board of Scottish Futures Trust (SFT), – the SNP’s alternative to PFI. She also sits on the Water Industry Commission for Scotland board, which brings in £13,780 . A Chartered Surveyor with over 35 years’ experience, Allen has worked for organisations such as John Lewis, HBOS and the UK Government.
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Recent regulatory developments of interest to most financial institutions. See also our sector specific updates in the Related Materials links.
Content
Quantifying culture and its implications for bank riskiness: Bank Underground article
PRA update CP9/21 - Remuneration: Correction to the definition of higher paid material risk taker
New Consumer Duty: FCA CP12/13
Outsourcing: FCA clarifies its expectations regarding firms review of legacy outsourcing arrangements
Preventing claims management phoenixing by financial services firms: FCA CP21/14
Financial Services Culture Board
EU AML and CTF action plan reforms: European Commissioner speech