Banking guidelines ‘insufficient’ on leadership and strategy role of boards
European Banking Authority guidelines on internal governance is strong on the monitoring role of boards, but lacks attention to other key duties.
Photo: EBA
Proposed new guidelines from the European Banking Authority (EBA) are "incomplete" because they fail to tackle the role of boards in strategy and leadership, according to the European Confederation of Directors' Associations (ecoDa).
The EBA, a body of the European Union, has been running a consultation on new guidelines for internal governance in banks, but ecoDa is concerned that they fail to recognise key elements of board responsibility.
Lutgart Van den Berghe, chair of ecoDa's policy committee, said attention on the complete role of board of directors was necessary: "The EBA guidance on internal governance (naturally) focuses on
Like this article? Sign up to our newsletter to get more articles like this delivered straight to your inbox. For thoughtful journalism, expert insights on corporate governance & an extensive library of reports, guides and tools to help boards & directors navigate the complexities of their roles. Subscribe to Board Agenda Subscribe Here
Related Stories
-
Value creation the missing link in integrated reporting
Integrated reporting is gaining in popularity, but a review of recent reports reveals companies still need to link governance structures with value creation over time.
-
Dixons Carphone CFO to join M&S as retailer steps up transformation plan
Humphrey Singer is to bring his digital know-how and transformation experience to Marks & Spencer, as the retailer looks to reduce its reliance on physical stores.
-
Norway’s oil fund backs closure of LTIPs at Weir
The world's largest sovereign fund has backed a proposal to end LTIPs at Weir Group in the hope of encouraging other companies to do likewise.
