The latest consultation paper published by the
Financial Services Authority - available
here (
pdf) - outlines a proposed amendment to the
Conduct of Business Sourcebook which will require disclosure in respect of the
FRC's Stewardship Code. The proposed amendment provides:
A firm, other than a venture capital firm, which manages investments for a professional client that is not a natural person must disclose clearly on its website, or if it does not have a website in another accessible form:- the nature of its commitment to the Financial Reporting Council’s Stewardship Code; or
- where it does not commit to the Code, its alternative business model".
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