FSA proposes extending approved persons scope

Nine significant influence controlled functions, made up of six new governing functions and three new systems and controls functions, are included in the proposals. The paper 'Effective corporate governance (Significant influence controlled functions and the Walker review)' targets the execution of senior roles within firms, and builds on Sir David Walker's review of risk management standards published in November last year. Graeme Ashley-Fenn, FSA's director of permissions, decisions and reporting, says: "Our experience shows once a firm gets its corporate governance right, with a s...