Subsequent to almost every financial crisis, business corporations are found to have either committed fraudulent acts or engaged in various kinds of unethical undertakings. Policymakers and regulators typically respond with new rules for corporate conduct in the hope that bad corporate conduct would not recur. Yet, it often did, at least as seen in the current scandals in the financial services sector. Still, the idea of using refreshed or reformulated corporate governance to prevent corporations from engaging in reckless corporate action or inappropriate business conduct continue to be made in response. This article reflects on what has been the situation in the UK and develops from this a way forward.
Business Law Review