New reg­u­la­tor to tackle ex­ecs

Daily Mail - - City & Finance -

A NEW watch­dog should be set up to pun­ish neg­li­gent bosses, ac­cord­ing to The In­vest­ment As­so­ci­a­tion.

The trade body for in­vest­ment man­agers says the cur­rent sys­tem for hold­ing bosses to ac­count is too frag­mented, and comes amid ques­tions over ex­ec­u­tives’ be­hav­iour in high-pro­file cor­po­rate col­lapses, such as Car­il­lion and BHS.

An­drew Ninian, the body’s direc­tor of stew­ard­ship and cor­po­rate gov­er­nance, whose 240 mem­bers man­age nearly £7tril­lion, said: ‘By unit­ing the pow­ers and re­spon­si­bil­i­ties, we would be giv­ing real teeth to a sin­gle body who could then hold any di­rec­tors to ac­count for be­ing neg­li­gent of their du­ties.’

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