Pe Persons controlling lling Bank under the law aw of of UK - PowerPoint PPT Presentation

Pe Persons controlling lling Bank under the law aw of of UK and US US Korostelev Evgeniy

Princip ciple les of of corpora rate govern rnance ce • Separation of management from ownership • Division of competence between the management bodies

Co Co ntro rolli lling persons of of the company in in UK UK • Director (p. 190, 197 of the Companies Act 2006) • Shadow director (p. 251 of the Companies Act 2006) • A person that has 50% (or more) of the share capital/ controls 50% (or more) of the voting power of the company (p.255 of the Companies Act 2006)

Affiliated persons • members of the director's family (p. 253 of the Companies Act 2006) • a body corporate with which the director is connected (person has ≥ 20 % of the share of the company) (p. 254 of the Companies Act 2006) • firm that is governed by such persons

Pe Persons contro rolli lling Bank in in UK UK • General rules of the Сompanies Act 2006 apply + • External control: Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)

Bank of of Englan an d P R PRA A SMCR Board of directors, Senior Management Shareholders

Contro rolling ng persons ns of of the compan pany in in US US • Director (p. 402 of the Sarbanes-Oxley Act) • A person that has 50% (or more) of the share capital. May be a lesser lesser percentage of ownership by contract, lease, agreement with other stockholders, or by court decree (p. 810-10-15-8 of the Financial Accounting Standards Board)

Persons ns contro rolling ng Bank in in US US • Director • A person that has 50% ≤ of the share capital of the Bank + • External control: Office of the Controller of the Currency (OCC), Financial Stability Oversight Council (FSOC)

Federal al Reserve Syste tem FSOC OCC Board of directors Chief Risk Officer Chief Audit Executive Shareholders

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