UK Treasury releases Walker Review

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LONDON - The UK Treasury has released the Walker Review consultation paper, examining weaknesses in corporate governance, risk management, board-level competence, internal audit, and remuneration incentivisation at banks and other firms.

The report cracks down on non-executive board members. It stresses they need relevant expertise, as many were exposed as being poorly qualified to predict or deal with the fallout from the financial crisis. It also recommends bonuses be more tightly controlled,