- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-01-23T12:56:00
The Financial Reporting Council (FRC) held back on the latest round of updates to the U.K.’s corporate governance code, as the country remains wary of pushing away businesses and investors.
Revisions to the code, announced Monday, focused on improving its section on internal controls, instead of tackling previously proposed subjects including environmental, social, and governance; diversity and inclusion; and expectations on audit committee chairs’ engagement with shareholders. The FRC said this determination was “aimed at promoting smarter regulation” and that it focused on what was necessary.
“The FRC is conscious that the expectations for effective governance must be targeted and proportionate,” the regulator said. “This approach ensures the FRC balances underpinning trust and confidence in U.K. plc for investors and others whilst keeping burdens on businesses to the minimum necessary.
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