Governance – Steve Baker

Post Tagged with: "Governance"

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Of course shareholders should control executive pay

by Steve Baker 4 March 2013 in Politics 4 comments

Via the BBC: Swiss voters have overwhelmingly backed proposals to impose some of the world’s strictest controls on executive pay, final referendum results show. The measure has two important strands: shareholders will have a veto on executive remuneration and golden hellos and goodbyes will be banned. The former is a […]

Speech on the Financial Institutions (Reform) Bill

by Steve Baker 29 February 2012 in Politics, Business 5 comments

I was delighted today that my ten-minute rule Bill was introduced without opposition. This late in the Parliament, the Bill itself is extremely unlikely to make further progress but I was glad to put the following on the record (these are my notes – Hansard is here: Mr Speaker, I […]

Financial Institutions (Reform) Bill – Other measures

by Steve Baker 29 February 2012 in Politics, Business Comments are Disabled

In previous articles, I set out why it’s necessary to address risk-taking incentives in banks and how losses would be covered from the bonus pool and director’s personal bonds before hitting equity. This article sets out other necessary provisions. 5. Accounting standards 5.1 For the purposes of the Bill, all […]

Financial Institutions (Reform) Bill – Use of personal bonds and bonus pool to make good bank losses

by Steve Baker 28 February 2012 in Politics, Business Comments are Disabled

Yesterday, I began to set out how my proposed Financial Institutions (Reform) Bill would meet the need for a vibrant, reliable and robust banking system by adjusting bank directors’ and employees’ exposure to commercial risk. That article described changes to bank directors’ liability and the treatment of bonuses. This article […]

Financial Institutions (Reform) Bill – Liability of bankers and treatment of bonuses

by Steve Baker 27 February 2012 in Politics, Business Comments are Disabled

A developed society like ours needs a good means of exchange, unit of account and store of value: a good money. It also needs a vibrant, dynamic, reliable and robust means of executing payments and intermediating savings to entrepreneurs: we need a good banking system. Unfortunately, Of all the many ways […]

The BoE’s Andrew Haldane: “The best proposals for [bank] reform are those which aim to reshape risk-taking incentives on a durable basis”

by Steve Baker 26 February 2012 in Politics Comments are Disabled

While preparing to seek permission to introduce my Financial Institutions (Reform) Bill, I discovered a recent article by the Bank of England’s Executive Director for Financial Stability, Andrew Haldane, The Doom Loop: Equity in Banking: The continuing backlash against banking, as evidenced in popular protests on Wall Street and in the City […]

The European Union’s failure by its own standards

by Steve Baker 4 January 2012 in Politics Comments are Disabled

The 2011 Legatum Prosperity Index includes a number of insights. The fourth article is “The European Crisis: Time to Rethink Integration?” In a sidebar, the author explains that the average confidence in a European Government is 12% lower than the Index average. Legatum suggests that European electorates feel increasingly excluded […]