Revisions to UK Stewardship Code

The Financial Reporting Council (FRC) has launched a public consultation on the revisions to the UK Stewardship Code (‘Code’). The consultation period is from 11 November 2024 to 19 February 2025.  

Key changes to the Code include:  

• Amendments to the definition of stewardship. 

• Revised reporting process, including less frequent reporting of policies.  

• Code’s Principles are streamlined with more concise reporting prompts.  

• Service Providers Principles are tailored to be applied by proxy advisors and investment consultants.

• An issuing guidance to support the Code’s signatories in implementing the Code. 

• Introduction of the ‘Policy and Context Disclosure’. 

• Permission for Code’s signatories to cross-reference to other disclosures.