NEDonBoard had the pleasure of attending the 2019 NED Award ceremony on 27th March. Sir Roger Carr received the Lifetime Achievement NED Award and gave an inspirational speech to the audience. In this blog post, we present his 5 NED rules. We do hope that the NEDonBoard community of non-executive directors and board members will…
NEDonBoard had the pleasure of attending the 2019 NED Awards ceremony on 27th March. The event took place at the Claridge Hotel in Mayfair. It recognised the work and contribution of non-executive directors, chairs and senior independent directors across 7 categories: Not–for–Profit/Public Service Organisation, Private/Private Equity Backed, FTSE AIM, FTSE All Share, FTSE 100, Dame…
In January 2019, Metro Bank revealed that it has misclassified large numbers of commercial loans when calculating its risk-weighted assets. Since then, the challenger bank has made the headline over its weak corporate governance. The Metro Bank case is an interesting case study for NEDs. In this blog, we consider Metro’s board composition, internal controls…
NEDs wanted! In April 2018, the FCA announced a range of measures to improve fund governance, protect investors and ensure that investors receive value from the investments. One of these measures requires the Board of Authorised Fund Managers (‘AFMs’) to be comprised of a minimum of 2 independent non-executive directors, representing at least 25% of…
This week, NEDonBoard brings to your attention the responsibility of board of directors and board members regarding GDPR a few months following the implementation of the requirements and the first few cases of breaches. Too many organisations are still complacent despite the many high-profile cases of data breaches and fines seen since the new…
The Importance of D&O Insurance for NEDs On 29 January, Clyde & Co hosted a NEDonBoard panel discussion on the legal duties and liabilities that apply to non-executive directors (NEDs), the role of directors and officers (D&O) insurance in mitigating directors’ personal liability and the due diligence that NEDs should carry out before accepting a…
On 29 January, Clyde & Co hosted a NEDonBoard panel discussion on the legal duties and liabilities that apply to non-executive directors (NEDs), the role of directors and officers (D&O) insurance in mitigating directors’ personal liability and the due diligence that NEDs should carry out before accepting a position on the board. In this blog…
On Tuesday 4th February, NEDonBoard met at 10 Downing Street to discuss how the NEDonBoard community of non-executive directors and board members can contribute to create the best business conditions in the UK after Brexit. This meeting follows the launch of our Board Ready-Brexit Ready initiative in October. Brexit is the ‘mother of all…
Since the introduction of Deferred Prosecution Agreements (DPAs) into the UK in February 2014 there have been four reported cases to date (Standard Bank, XYZ, Rolls-Royce and Tesco). DPAs are appealing to both corporates and the Serious Fraud Office (SFO). They allow corporations to escape criminal prosecution by paying a fine and improving compliance. This…
On Tuesday 22nd January 2019, Patisserie Valerie announced that it failed to secure an extension to its lending facilities and that it had to collapse into administration. Patisserie Valerie is the latest high-profile company to collapse because of fraud and inaccurate data. This raises some of the exact same issues as the collapse of Carillion…
