Title: The bank directors' duties: time for the new enlightenment?

Authors: Bill Davies

Addresses: University of Hertfordshire, UK

Abstract: In the aftermath of the recent banking crisis, much of the debate on how to secure future financial stability has focused on forms of bespoke banking regulation and corporate governance. This article, however, considers the potential effect on the directors of banks of the newly codified duties under the Companies Act 2006. In particular it studies S.172 – the duty to promote the success of the company – and the impact of |Enlightened Shareholder Value| (ESV). It questions the enforceability of this new provision and suggests ways it could be reinforced to have a greater influence over the banking industry.

Keywords: bank directors; director duties; Companies Act 2006; enlightened shareholder value; corporate governance; financial crisis; regulation; private law; financial stability; banking regulation.

DOI: 10.1504/IJPL.2010.029609

International Journal of Private Law, 2010 Vol.3 No.1/2, pp.171 - 178

Published online: 30 Nov 2009 *

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