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Consultations and Revisions to the UK Stewardship Code

The FRC undertakes regular reviews of the impact and implementation of the UK Stewardship Code to ensure it continues to work effectively.

This page provides links to documents associated with the most recent complete reviews. Documents associated with earlier reviews can be obtained on request by contacting

The UK Stewardship Code is normally subject to a biennial review, but the Code was not changed in 2014 or 2016. The focus has instead been on implementation and ensuring that signatories follow through on their commitment to the Code, for example through the Stewardship Code tiering exercise undertaken in 2016, which assessed signatories on the basis of the quality of their reporting. 

2012 changes to the Code

The UK Stewardship Code was subject to a period of consultation and revision in 2012. Amendments to the Code took effect on 1 October 2012.

The original consultation document issued in May 2012 and its responses can be viewed here.

The  Feedback Statement details the changes to the 2012 Code and explains the rationale for the amendments.
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