Consulting on a revised UK Stewardship Code

Published: 28 January 2019

Response deadline: 29 March 2019

Consultation document

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Title	Consulting on a revised UK Stewardship Code
Format	pdf, 504.8 KB

The FRC has now published The UK Stewardship Code 2020.

 

The FRC published a consultation on the revisions to the UK Stewardship Code on 30 January 2019. It closed on 29 March 2019 and we received more than 110 responses.

The Feedback Statement provides an analysis of the responses received to the consultation questions and the feedback from engagement with stakeholders during and after the consultation period. It explains how the FRC has considered and addressed the feedback and how it will implement the Code.

• Annex A: Proposed Revisions to the UK Stewardship Code - Revised UK Stewardship Code (PDF)
• Annex B: Proposed Revisions to the UK Stewardship Code - Summary of Changes (PDF)
• Feedback Statement (PDF)

The FRC and the Financial Conduct Authority (FCA) have also published a discussion paper Building an effective regulatory framework for stewardship (PDF). The paper aims to advance the discussion about what effective stewardship should look like, expectations for financial services firms, and how this can be best supported by the UK’s regulatory framework.

Responses received

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Title	Annex A: Proposed Revisions to the UK Stewardship Code - Revised UK Stewardship Code
Format	pdf, 438.5 KB
Title	Annex B: Proposed Revisions to the UK Stewardship Code - Summary of Changes
Format	pdf, 334.9 KB
Title	Aberdeen Standard Investments
Format	pdf, 230.9 KB
Title	Adams, Professor
Format	pdf, 213.5 KB
Title	Aldersgate Group
Format	pdf, 259.0 KB
Title	Allianz Global Investors
Format	pdf, 207.5 KB
Title	Aon
Format	pdf, 118.8 KB
Title	Association of International Certified Professional Accountants (AICPA)
Format	pdf, 380.3 KB
Title	Association of Investment Companies (AIC)
Format	pdf, 78.0 KB
Title	Association of Member Nominated Trustees (AMNT)
Format	pdf, 367.9 KB
Title	Association of Pension Lawyers (APL)
Format	pdf, 358.5 KB
Title	Aviva Investors
Format	pdf, 756.2 KB
Title	AXA Investment Managers
Format	pdf, 185.4 KB
Title	Baillie Gifford
Format	pdf, 347.1 KB
Title	Black Sun plc
Format	pdf, 699.7 KB
Title	BlackRock Asset Management
Format	pdf, 104.9 KB
Title	Border to Coast Pensions Partnership
Format	pdf, 375.5 KB
Title	Brewin Dolphin
Format	pdf, 252.5 KB
Title	British Columbia Investment Management Corporation (BCI)
Format	pdf, 752.7 KB
Title	British Private Equity and Venture Capital Association (BVCA)
Format	pdf, 192.3 KB
Title	Brunel Pension Partnership
Format	pdf, 207.8 KB
Title	BT Pension Scheme (BTPS)
Format	pdf, 182.7 KB
Title	Castlefield Partners
Format	pdf, 264.8 KB
Title	CFA Society
Format	pdf, 250.2 KB
Title	Charles Stanley & Co ltd
Format	pdf, 131.0 KB
Title	Chartered Institute of Personnel and Development (CIPD)
Format	pdf, 194.2 KB
Title	Chiu, Dr & Katelouzou, Dr
Format	pdf, 310.7 KB
Title	Church Commissioners and Church of England Pension Board
Format	pdf, 332.0 KB
Title	City of London Law Society (Company Law Committee)
Format	pdf, 112.0 KB
Title	ClientEarth
Format	pdf, 254.9 KB
Title	D.F.King ltd
Format	pdf, 382.5 KB
Title	Edmans, Professor
Format	pdf, 206.2 KB
Title	Ernst & Young (EY)
Format	pdf, 84.2 KB
Title	First State Investments
Format	pdf, 220.3 KB
Title	Focusing Capital on the Long Term Global (FCLT)
Format	pdf, 170.6 KB
Title	GC100
Format	pdf, 497.6 KB
Title	Godfrey, D
Format	pdf, 14.2 KB
Title	Gontsian, S
Format	pdf, 109.8 KB
Title	Grant Thornton
Format	pdf, 204.9 KB
Title	Green Finance Initiative (GFI)
Format	pdf, 258.1 KB
Title	Hampton-Alexander Review
Format	pdf, 252.8 KB
Title	Hermes Investment Management
Format	pdf, 431.1 KB
Title	High Pay Centre
Format	pdf, 119.7 KB
Title	House of Commons Environmental Audit Committee
Format	pdf, 89.1 KB
Title	Hymans Robertson LLP
Format	pdf, 225.2 KB
Title	ICAEW response
Format	pdf, 210.1 KB
Title	ICAS
Format	pdf, 105.0 KB
Title	ICMA Asset Management and Investors Council
Format	pdf, 161.2 KB
Title	ICSA - The Governance Institute
Format	pdf, 111.2 KB
Title	Implementation Taskforce on Social Impact Investment
Format	pdf, 363.9 KB
Title	Institute of Business Ethics
Format	pdf, 227.0 KB
Title	Institute of Directors (IoD)
Format	pdf, 287.3 KB
Title	Institute of Risk Management (IRM)
Format	pdf, 302.6 KB
Title	Institute of Occupational Safety & Health (IOSH)
Format	pdf, 228.3 KB
Title	International Corporate Governance Network (ICGN)
Format	pdf, 294.7 KB
Title	Invesco
Format	pdf, 187.9 KB
Title	Investec Asset Management
Format	pdf, 195.5 KB
Title	Investment Association (IA)
Format	pdf, 1018.2 KB
Title	Investor Forum
Format	pdf, 451.6 KB
Title	Investor Relations Society
Format	pdf, 234.4 KB
Title	Jupiter Asset Management
Format	pdf, 457.2 KB
Title	Kames Capital
Format	pdf, 223.8 KB
Title	KPMG LLP response
Format	pdf, 97.2 KB
Title	Lane Clark & Peacock LLP
Format	pdf, 58.3 KB
Title	Legal and General Investment Management (LGIM)
Format	pdf, 154.1 KB
Title	LGPS Central ltd
Format	pdf, 839.2 KB
Title	Lindsell Train ltd
Format	pdf, 60.5 KB
Title	Local Pensions Partnership (LPP)
Format	pdf, 146.0 KB
Title	M&G Investment Management
Format	pdf, 188.6 KB
Title	Mercer
Format	pdf, 58.7 KB
Title	Merian Global Investors
Format	pdf, 201.2 KB
Title	Minerva Analytics ltd
Format	pdf, 148.9 KB
Title	National Employment Savings Trust Corporation (NEST)
Format	pdf, 70.1 KB
Title	Northern Ireland Local Government Officers' Superannuation Committee
Format	pdf, 1021.4 KB
Title	Oldfield Partners
Format	pdf, 119.5 KB
Title	Pension and Lifetime Savings Association (PLSA)
Format	pdf, 360.5 KB
Title	Principles for Responsible Investment (PRI)
Format	pdf, 369.8 KB
Title	PwC
Format	pdf, 171.6 KB
Title	Quoted Companies Alliance (QCA)
Format	pdf, 774.3 KB
Title	Royal London
Format	pdf, 157.6 KB
Title	RPMI Railpen
Format	pdf, 256.5 KB
Title	SAUL Trustee Company
Format	pdf, 291.7 KB
Title	Schroders Investment Management
Format	pdf, 217.3 KB
Title	Sergakis, Dr
Format	pdf, 192.7 KB
Title	ShareAction
Format	pdf, 589.5 KB
Title	ShareSoc & UK Shareholders' Association (UKSA)
Format	pdf, 897.8 KB
Title	Smart Pension
Format	pdf, 131.1 KB
Title	State Street Global Advisors
Format	pdf, 236.9 KB
Title	The 100 Group
Format	pdf, 3.5 MB
Title	The Law Society
Format	pdf, 200.1 KB
Title	The Pensions Regulator
Format	pdf, 176.0 KB
Title	The Purposeful Company
Format	pdf, 717.4 KB
Title	Tomorrow's Company
Format	pdf, 126.3 KB
Title	Trades Union Congress (TUC)
Format	pdf, 278.9 KB
Title	UK Sustainable Investment and Finance Association (UKSIF)
Format	pdf, 497.7 KB
Title	Universities Superannuation Scheme (USS)
Format	pdf, 535.4 KB
Title	Vanguard
Format	pdf, 83.0 KB
Title	Vigeo Eiris
Format	pdf, 221.0 KB
Title	Commonwealth Association of Architects
Format	pdf, 85.0 KB
Title	Gershon, Sir Peter
Format	pdf, 698.6 KB
Title	BMO Global Asset Management response
Format	pdf, 223.3 KB
Title	Local Authority Pension Fund Forum response
Format	pdf, 381.9 KB
Title	Pensions & Investment Research Consultants Ltd
Format	pdf, 125.8 KB
Title	Business, Energy and Industrial Strategy Committee response
Format	pdf, 281.4 KB
Title	Corporate Stewardship Code 2020 Feedback Statement
Format	pdf, 544.4 KB

Consultation status: closed