In 2020, the FRC substantially reformed the code, which was launched in 2010, to impose stricter reporting requirements on investors that had signed up. Since its launch, it has been replicated in other jurisdictions and broadened to include new asset classes.
Signatories have to report on their stewardship activities and are reviewed annually by the FRC to remain on the list.
“Ultimately, what we want to see are concrete examples of stewardship activities and outcomes. Otherwise, its just a bland policy statement of intentions without application,” said Claudia Chapman at the FRC.
“We’re keen to narrow the gap between what is reported and what is done, and for the most part we are comfortable that those included on the list are doing what they say.”
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UK stewardship code adds 74 new signatories https://t.co/kpBki6AXex
— Finance News (@ftfinancenews) March 10, 2022