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Financial directors 'to gain further training'

28 January 2013

The financial services industry is to launch a scheme this week aimed at improving the quality of leadership found in its boardrooms, hoping to restore faith in its reputation following a torrid few years in which it has been criticised by shareholders and the general public.

This initiative has been organised by the Financial Skills Partnership (FSP), the employer-led sector-skills council for the industry.

It will issue a set of voluntary standards, including guidance on ethical behaviour, communication and culture, reports the Financial Times.

Liz Field, the FSP's chief executive, told the newspaper that the project should not be seen as a "regulatory stick" to beat the sector with, insisting that "this is about board effectiveness and efficiency".

The British Bankers' Association, the Association of British Insurers, the Financial Reporting Council and the Financial Services Authority all support the scheme.

A report from Deloitte recently suggested that financial executives are more enthusiastic about 2013 than they were for the last 12 months.

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Categories: Functional Practices, Financial Management

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