FRC makes financial services compliance appointment
25 May 2010 at 16:37
The Financial Reporting Council (FRC) has appointed a new chairman for its Corporate Governance Committee.
Sir John Sunderland is to take up the position and lead the body, which is responsible for ensuring firms are meeting regulations linked to governance and related areas of financial services compliance.
The appointment was welcomed by FRC chairman Baroness Hogg, who said Sir John's experience would be of "enormous value" to the organisation as it looks to improve corporate governance.
Discussing his position, Sir John said: "As we learn the lessons from the financial crisis it is important that companies increase their accountability to shareholders and nurture boardroom talent to ensure the UK remains an attractive and competitive place to do business."
The appointment has come after former Financial Services Authority regulator Oliver Ledge told the Financial Times that companies have become fearful of not meeting the "aggressive" stance now being taken on governance issues in the industry.