The
Financial Reporting Council has today published a consultation paper concerning the content, operation and oversight of the proposed Stewardship Code for institutional investors: see
here (
pdf). More specifically, the FRC is seeking views on the following questions:
- Whether the code published by the Institutional Shareholders’ Committee in November 2009 provides a suitable basis for the Stewardship Code, in either its existing or an amended form.
- What the responsibilities for engagement of institutional shareholders and their agents are to the beneficial owners whose money they manage.
- How adoption of the standards in the code by UK and foreign investors can be encouraged.
- What information investors should disclose on their engagement policy and practice.
- What arrangements should be put in place to monitor how the code is applied.
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