Changes To The UK Corporate Governance Code

 Earlier this week the FRC published the final version of the revised UK Corporate Governance Code, which will take effect for financial years beginning on or after 1 January 2019. It also published a Feedback Statement outlining the responses to its December 2017 consultation on the proposed changes, together with a "Key Highlights" document.

As expected, much of the final version of the Code is the same as the version published for consultation; however, in response to feedback, there have been some key amendments to the proposed provisions. We set out below a summary of the key changes.

Unless companies decide to adopt all or part of the new Code earlier than required, the first reporting will not be seen until 2020. However, the FRC suggests that companies report on the new provisions relating to significant votes at shareholder meetings (see below) from 2019.