UK: FRC announces review of the effectiveness of the Combined Code

The Financial Reporting Council has today announced a review of the effectiveness of the Combined Code on Corporate Governance. A call for evidence has been published here. 

In the accompanying press release, the FRC states it is inviting views on all aspects of the Code but would particularly welcome comments concerning:

• The composition and effectiveness of the board as a whole
• The respective roles of the chairman, the executive leadership of the company and the non-executive directors
• The board’s role in relation to risk management
• The role of the remuneration committee
• The quality of support and information available to the board and its committees
• The content and effectiveness of Section 2 of the Code, which is addressed to institutional shareholders
• How the operation of the 'comply or explain' principle could be improved

The FRC states that it will be working closely with Sir David Walker's separate review of bank corporate governance, with which it will share evidence and research.