There is a “clear rationale” for more non-executive directors on the board of the Financial Conduct Authority, an independent review by Advance Boardroom Excellence has found.
The report argued that a greater number of NEDs would be beneficial to the regulator's board given the "huge agenda and challenges faced by the organisation" but clarified this was not a decision for the FCA but rather the Treasury. It added that additional committees "may well be required" in order to support the operation of the board and "do some more of the ‘heavy lifting'". Despite this, the FCA was found to have a "strong, experience and independent board, with diverse experience and skills", which has been the recipient of "a successful shaping" by the chair and Treasury. It...
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