The Financial Reporting Council has announced that it will be assessing signatories' reporting under the UK Stewardship Code and making public its assessment: see here. Two tiers will be used. The first - Tier 1 - where reporting expectations are met and under which asset managers will be asked to provide evidence of the implementation of their approach to stewardship (the FRC says that it will look particularly at conflicts of interest disclosures, evidence of engagement and approach to resourcing and integration of stewardship). The second tier - Tier 2 - where the Tier 1 reporting expectations are not met.
The FRC says that it will contact firms before making public its assessment in order to allow time for improvements. The intention is that signatories wlll engage with this new process positively and will be proactive in improving their reporting of stewardship activities.
Tuesday, 15 December 2015
UK: Stewardship Code - FRC to publish assessment of signatories' reporting
The Financial Reporting Council has announced that it will be assessing signatories' reporting under the UK Stewardship Code and making public its assessment: see here. Two tiers will be used. The first - Tier 1 - where reporting expectations are met and under which asset managers will be asked to provide evidence of the implementation of their approach to stewardship (the FRC says that it will look particularly at conflicts of interest disclosures, evidence of engagement and approach to resourcing and integration of stewardship). The second tier - Tier 2 - where the Tier 1 reporting expectations are not met.
The FRC says that it will contact firms before making public its assessment in order to allow time for improvements. The intention is that signatories wlll engage with this new process positively and will be proactive in improving their reporting of stewardship activities.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment