Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
Welcome to the latest article in the the Journal of International Banking and Financial Law series -
"Irreconcilable differences? Bank directors, shareholders and regulators"
2014) 10 JIBFL 623 1 November 2014).
Written by James Palmer, Hywel Jenkin, Barney Hinnigan are partners at Herbert Smith Freehills LLP, all members of its multi-disciplinary financial services corporate governance team
This article explores the difficulties faced by bank directors in balancing company law and regulatory requirements.
Those tasked with governing UK banks have always faced difficulties in balancing competing interests. This stems in part from the fact that banks must be operated in accordance with both company law and applicable financial services regulation. The two regimes do not always operate in a clearly integrated and consistent manner. Banks are also among the largest and most complex organisations, which adds to the practical challenge of governing them effectively, particularly when they are run on a cross-border basis.
Consumer protection is a fundamental aim of conduct regulation in the UK. It is expressly recognised in the operational objectives of the Financial Conduct Authority and the Prudential Regulation Authority seeks to protect the markets as a whole (and thus consumers), by promoting the safety and soundness of firms. Short of insolvency, company law does not overtly seek to protect customer interests in the same way: the focus is on the relationship between the company, its management and its shareholders. Company law does, of course, recognise the need for boards to comply with separate legal and regulatory regimes applicable to the
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234