Last month, a government-appointed commission produced a code of corporate governance.

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Mr Sarkozy threatened to legislate to enforce these, but he has since accepted a form of self-regulation in the shape of a code of good governance for companies.

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We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases and social media postings.

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Complete transparency is required by the National Statistics Code of Practice, which I put in place to safeguard issues of governance and integrity.

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The UK's Corporate Governance Code should be extended to ensure sufficient long-term incentives are incorporated into the pay of executives and non-executive directors, he suggested.

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