The Financial Reporting Council (FRC) has launched a consultation over proposed changes to the UK Corporate Governance Code. These changes are apparently based on the findings of the Culture Report published by the FRC in 2016.
“The UK is globally renowned for its corporate governance framework, which is underpinned by the UK Corporate Governance Code,” explained Sir Win Bischoff, Chairman of the FRC. “At this critical time and as the country approaches Brexit, a revised Code will be essential to restoring trust in business, attracting investment and ensuring the long-term success of companies for members and wider society. We have engaged with many stakeholders and incorporated suggestions from the Government’s Green Paper on Corporate Governance Reforms, to produce a Code which is shorter and sharper and fit for purpose.”
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