FCA review of Board Effectiveness

The FCA has published a report of the independent review into the effectiveness of its Board. The review was undertaken by Independent Audit Limited.

The review involved interviews with Board members, a review of documentation and observance of Board and committee meetings. The report also sets out the following broad themes:

  • aligning of activities into key strategic themes by the executive;
  • increased engagement with different areas of the organisation;
  • exploring different ways of engaging with external stakeholders;
  • balancing its agenda in terms of internal and external matters;
  • further refinement of the risk management framework; and
  • varying and clarifying the format of different Board sessions.