The Financial Services Authority said Wednesday its "concert party" rules shouldn't stand in the way of stronger bank-shareholder activism, a central goal of a high-profile government review of the U.K.'s finance sector.
The U.K. Treasury commissioned David Walker to gauge what changes were needed in corporate governance at financial institutions in the wake of the banking crisis. One of the key recommendations in the interim report is that institutional investors should play a more active role in questioning management decisions, using collective shareholder agreements, if necessary.
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