UK: AIC code of corporate governance for investment companies - new edition

The Association of Investment Companies has published an updated edition of its code of corporate governance for investment companies. The code is endorsed by the Financial Reporting Council and its purpose (to quote directly from its introduction) is to:

... provide boards of our Member companies with a framework of best practice in respect of the governance of investment companies. The intention behind the AIC Code is to create a one-stop approach to corporate governance which deals with all the issues relevant to investment companies and enables boards to satisfy any requirements they may have under the Combined Code on Corporate Governance (Combined Code)".