§ Mr. NormanTo ask the Secretary of State for Trade and Industry how many letters and submissions have been received by the DTI on the Higgs Report; and how many of these were in favour of its conclusions. [110398]
§ Miss Melanie JohnsonThe Higgs review made a number of recommendations relating to the role effectiveness of non-executive directors, many of which are to be taken forward to advance best practice through amendments to the combined code. The FRC is responsible for changes to the code and therefore for consulting on the amendments proposed in the Higgs review. Responses were sought by the FRC by 14 April. It is for the FRC to report on the responses to that consultation, and on amendments to the combined code resulting from the review and consultation.
The Department has received a number of letters on the recommendations in the report, many of which enclosed copies of responses to the FRC. It has also received letters in relation to the work of the group, which is being led by Professor Laura Tyson, Dean of the London Business school, which was set up as envisaged in the report to bring to greater prominence candidates from the non-commercial sector.