ARTICLE · 22 NOVEMBER 2024

Financial Reporting Council Publishes Consultation On Updated UK Stewardship Code

Norton Rose Fulbright Hong Kong

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The Financial Reporting Council is consulting on updates to the UK Stewardship Code, aiming to enhance transparency for pensioners while reducing reporting burdens for asset owners, managers, and service providers. Consultation ends February 19, 2025.

United KingdomEmployment and HR

Lesley Browning

The Financial Reporting Council has published a consultation on proposed updates to the UK Stewardship Code.

The consultation builds on interim measures announced earlier this year, which included reducing the annual reporting burden while providing greater transparency for pensioners on how their money is being managed.

The Code, which is voluntary, is aimed at:

Asset owners such as pension schemes, insurers, foundations, endowments, local government pension pools and sovereign wealth funds.
Asset managers who manage assets on behalf of UK clients or invest in UK assets.
Service providers such as investment consultants, proxy advisors, data and research providers that support asset owners and asset managers to exercise their stewardship responsibilities.

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