Under the banner of 'encouraging effective stewardship', there are several developments to report today. First, the Financial Reporting Council has published a consultation paper setting out proposed revisions to the UK Stewardship Code: see here. Second, and connected with the FRC's consultation, the Financial Conduct Authority has published two documents: (1) a consultation paper on regulatory measures to implement the provisions of the amended Shareholder Rights Directive for FCA-regulated life insurers and asset managers; and (2) a discussion paper, with the FRC, on the importance of effective stewardship, considering, for example, what should be the minimum expectations for financial services firms investing for clients and beneficiaries.
Wednesday, 30 January 2019
UK: encouraging effective stewardship
Under the banner of 'encouraging effective stewardship', there are several developments to report today. First, the Financial Reporting Council has published a consultation paper setting out proposed revisions to the UK Stewardship Code: see here. Second, and connected with the FRC's consultation, the Financial Conduct Authority has published two documents: (1) a consultation paper on regulatory measures to implement the provisions of the amended Shareholder Rights Directive for FCA-regulated life insurers and asset managers; and (2) a discussion paper, with the FRC, on the importance of effective stewardship, considering, for example, what should be the minimum expectations for financial services firms investing for clients and beneficiaries.
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