IA calls on government to create body to 'punish negligent directors'

Calls for establishment of new single authority

The Investment Association (IA) as called on the UK government to establish a new single authority with the power to "punish negligent directors".

In response to the Department for Business, Energy and Industrial Strategy's (BEIS) consultation on insolvency and corporate governance, the IA said such a body should be established with the power to issue sanctions against company directors who fail to meet their duties. EFAMA launches asset management stewardship code The BEIS consultation was launched in March 2018, with the aim of collecting views on "improvements to corporate governance within companies which are in or are approaching insolvency". Director of stewardship and corporate governance at the Andrew Ninian said "rec...