Many of the revisions and proposed revisions to the UK corporate governance code have been about closer scrutiny for accountability and to raise the bar on standards of behaviour - as have moves on regulation.
'Trust' is a word we have heard a lot of in Britain since the 2008 financial crisis. It has been commonly uttered and muttered by senior names in business, analysed and spun by corporate governance experts, corporate communications, consultancies, think-tanks and politicians. It is well-established as a subject that commands attention, inspires conferences and events, and is an essential component of the relationship between business and society.
It has been an eventful fortnight in UK financial regulation, spewing food for thought on a whole spate of issues around accountability and trust, and their role in better corporate governance.
Almost exactly nine months ago Andrew Bailey, CEO of the UK regulator the Financial Conduct Authority (FCA), spoke out for the first time in the media via an opinion piece in The Guardian to firms that were not applying the senior managers regime that had been in place since March 2016.