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ARTICLE · 24 OCTOBER 2018

Revised Guidance On Board Effectiveness

A&O Shearman
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On 16 July 2018, the FRC published the 2018 Code, a revised Guidance on Board Effectiveness (the Guidance), and feedback on its December 2017 consultation.

United KingdomCorporate/Commercial Law
A&O Shearman
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On 16 July 2018, the FRC published the 2018 Code, a revised Guidance on Board Effectiveness (the Guidance), and feedback on its December 2017 consultation. The Guidance is intended to assist companies in applying the principles of the 2018 Code and it aims to support companies in achieving high standards of governance.

The Guidance is not mandatory nor prescriptive, but contains questions to stimulate board discussion and suggestions of good practice to support directors and their advisors in applying the 2018 Code.

The Guidance covers the sorts of practices that should help boards function more effectively and also includes some of the procedural aspects of governance which were previously included in the U.K. Corporate Governance Code which have become established good practice. Key changes to the Guidance in response to the December 2017 consultation include:

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