The Walker Report recommends actions to be taken to decrease the chance of Bank failures in future. You can download the whole Report from the Treasury Website. Here is a summary of the recommendations:

1. Improvements to director induction, training, development and awareness of business issues
2. Assurance of dedicated support and/or separate advice for NEDs in addition to that from normal board processes
3. Increased time commitment from NEDs FRC review of Combined Code and/or guidance
4. Enhanced supervisory oversight of the balance, experience and qualities of the board, and of board access to appropriate induction and development programmes
5. Strengthening the FSA's interview process for NEDs assessments
6. Ensuring NEDs have the capacity to challenge strategic proposals and access to the necessary information for informed decision-making
7. Ensuring the Chair commits an appropriate amount of time to the role
8. Ensuring the Chair is appropriately qualified for the role
9. Ensuring the Chair is responsible for leadership of the board and the adequacy of the information it receives
10. Chair to be elected on an annual basis FRC review of Combined Code and/or guidance
11. Ensuring that the SID is responsible for supporting the chair, evaluating the chair and serves as a trusted intermediary
12. Board to undertake an evaluation of its performance, with external facilitation every second or third year
13. Enhanced reporting of the board evaluation, the process for identifying the board's skill requirements, and the Chair's communication with shareholders
14. Board responsibility to be aware of and respond to material changes in ownership of the company's shares
15. Recommendation deleted
16. Development of a Code of Stewardship for institutional investors and fund managers
17. Regulatory sponsorship of the Stewardship Code
18. Regulatory oversight of the process for updating the Stewardship Code
     
    1. Monitoring adherence to the Stewardship Code
19. Ensuring comply-or-explain reporting of commitment to the Stewardship Code
20. Regulatory oversight to ensure clarity of comply-or-explain reporting of commitment to the Stewardship Code
     
    1. Ensuring the adequacy of interpretation and guidance provided to minimise regulatory impediments to collective engagement
21. Improving collective investor engagement To be taken forward by FRC, institutional investors and fund managers
22. Best practice in exercising voting powers and disclosure of voting
23. Requirement for and enhancing the remit of a board risk committee
24. Strengthening the role and independence of the chief risk officer
25. Ensuring that the board risk committee has appropriate access to external risk information
26. Due diligence by the board risk committee on significant acquisitions and disposals
27. Improving the annual reporting of risk management Government to consider options
28. Enhancing the remit of the board remuneration committee
29. Ensuring that the board remuneration committee has oversight of senior staff remuneration
30. Enhancing external reporting of the process for setting the performance objectives for senior staff
31. Reporting of senior staff remuneration (aggregated in bands) by domestic firms
32. Ensuring comparable disclosure of senior staff remuneration (aggregated in bands) by the UK subsidiaries of foreign companies
33. Changes to the structure of senior staff remuneration
34. Senior staff to maintain minimum shareholdings in the firm
35. Ensuring the board risk committee provides advice on risk adjustments to performance objectives
36. Re-election requirement for board remuneration committee chair if the remuneration report fails to secure 75% support
37. Disclosure of enhancement of termination benefits or the power to do so Government to take powers in the Financial Services Bill
38. Code of conduct for remuneration consultants and its use by remuneration committees