Consultation on revised UK corporate governance code
Close date: 28 February 2018
The Financial Reporting Council consults on a revised UK corporate governance code.
The proposed revised code is shorter and focuses on long-term success and sustainability, increased public trust in listed companies and the attractiveness of UK capital markets to global investment during the Brexit negotiations and thereafter.
It sets out good practice so that boards can: align a company's purpose, strategy and values with its business culture; undertake effective engagement with wider stakeholders, to improve trust and achieve mutual benefit, and to have regard to wider society; gather the views of the workforce; ensure appointments to boards and succession plans are based on merit and objective criteria; take steps when they encounter shareholder opposition to any resolution, including in relation to executive pay policies and awards; and strengthen the role of remuneration committees.
Consultation document: Proposed revisions to the UK corporate governance code