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ARTICLE · 23 OCTOBER 2014

Revisions To The UK Code

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The Financial Reporting Council (the FRC) is the gatekeeper for the standards of corporate governance for the largest listed companies on the London market.

United KingdomCorporate/Commercial Law
Edward Craft
Edward Craft

The Financial Reporting Council (the FRC) is the gatekeeper for the standards of corporate governance for the largest listed companies on the London market.   The FRC regularly reviews and refreshes the UK Corporate Governance Code (the UK Code) and has done so again recently.   The September 2014 revision of the UK Code came into effect of 1 October 2014 and it is against this document that the largest listed companies are now obliged to report on a mandatory comply or explain basis.1

The new UK Code retains the same structure as before, but reflects some important evolutions of corporate governance thought, including:

1.            the effectiveness of the board and its evaluation being in greater focus

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