Summary UK vs. US Corporate Governance

UK
VS .




US


UK !



1990 1991 1992 2010 2018
· ⑧ ⑧ ⑧ ⑧



Failure Combined Failure
Failure Cardbury Code
of of of
Report Carillon
Polly Peck Maxwell Corp
& BCCI


Now : UK corporate governance code
Principles based
Comply or Explain


Polly Peck Scandal
( one

of
of the main


Cadbury's Report
instigators
(
CEO and Chairman Asil retained the
right to make payments
·




without board or other management approval , and delivered astonishing
profits complex and opaque structure
through
a


Shareholders blindly supported Polly Peck's expansion
·




Mr Nadir for theft of [29m
was convicted
relating to money
·
. a

transfers he authorized without
consulting the
Company's board of
directors

*
The Cadbury Report (1992) Robert
·
First
World's Corporate Governance report
Maxwell
·
Response to Corporate Failures (above)
·
UK-listed companies comply with code or explain
·
More INED's
·
Audit committee
comprising NED's majority INED's
·
Chair/CEO division of responsibilities
·
Introduction of remuneration committee
·
Introduction of nomination committee
·
Adhere to detailed code of best practice

,