Espen Eckbo, founding director of the Center for Corporate Governance at Dartmouth University's Tuck School of Business, says the tricky issue going forward is dealing with the corporate governance structure surrounding executives' compensation packages.

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Because the Co-Op would become so large in the sensitive business of taking deposits, with care of tens of billions of pounds of savings for many millions of customers, it would be forced to change its corporate structure and governance, and dedicate more capital to banking, to protect depositors from losses.

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In exchange, LTSE companies would be allowed to structure their corporate governance to facilitate greater freedom for management to pursue long-term investments.

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Reflected in the governance structure, individual and industry corporate members will have voting rights consistent with Bitcoin Foundation Articles and Bylaws.

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The mutual fund regulatory structure is generally recognized today as a model of poor corporate governance.

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But all three countries have had their share of corporate scandals suggesting that good governance is driven more by the climate of acceptable behaviour than by board structure.

ECONOMIST: Corporate governance