G-30 call for better scrutiny of bank boards

Financial leaders urge supervisors to assess the culture of banks

Boardroom table

The supervision of boards of directors in financial institutions needs to be improved, according to a report released by the Group of 30 (G-30), a think-tank of former financial leaders.

The report, entitled 'A New Paradigm: Financial Institution Boards and Supervisors', calls for changes in the ways supervisors and boards of directors work together. In particular, this includes supervisors having a greater role in assessing the culture of firms, as well as boards focusing more on risk culture

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