New research suggests that ‘regulation creep’ is deterring NEDs looking at roles in Financial Services

Incoming regulations designed to make company boards more accountable for corporate failings could have a dramatic and damaging effect on the diversity on Britain’s biggest financial services businesses and the way their Boards are run, according to a new report.

Advanced Boardroom Excellence, a leading board effectiveness consultancy, and Tyzack Partners, the international executive search firm, are highlighting that the financial services sector could be in for a shock when it comes to recruiting new blood from 2016 onwards. 

The report, entitled ‘Walking the Tightrope of Board Responsibility – a Difficult Balancing Act’, suggests that the introduction of the ‘Senior Managers’ Regime’ next year could act as a deterrent to and lead to a narrowing of experienced and capable business people considering non-executive directorships at leading financial services companies.