FIN.

FRC announces Stewardship Code changes

The FRC has announced major revisions to the UK Stewardship Code. It is making 5 immediate changes and has committed to a wider review. The key changes:

  • will remove the “context” reporting expectations, except for new reports or material changes;
  • will remove the annual “activity” and “outcome” reporting for some of the Code Principles;
  • allow cross-referencing to previous content;
  • set out clearly what an “outcome” is for stewardship purposes; and
  • emphasise the ability to exercise reporting against Principles 10, collaborative engagement and 11 escalation where necessary.

There will then be a wider public consultation on changes later this year.

Emma Radmore