Corporate Governance update
14 May 2020
The quality of corporate governance and stewardship activity by companies and investors is inevitably of heightened importance during the Covid-19 crisis. The FRC’s Corporate Governance and Stewardship team is currently monitoring corporate governance and AGM reporting and practices, and in the Summer will publish its initial assessment of good practice. This will be followed by the annual review of corporate governance later in the year, which will focus on evaluating the quality of reporting and practice on the main areas of change to the UK Corporate Governance Code.
To enable the FRC to monitor and assess this more effectively as it transitions to become the new regulator, ARGA, the Corporate Governance and Stewardship Team has been strengthened with two new senior management positions. David Styles has appointed Maureen Beresford as Head of Corporate Governance and Claudia Chapman as Head of Stewardship. Additional policy and reporting associates have also been recruited. The enlargement of the team will also mean that the FRC is better able to work with a widening range of stakeholders to develop corporate governance and stewardship policy and guidance.
The FRC will continue its outreach to stakeholders on the Stewardship Code to establish expectations for high quality reporting next year. The deadline for receiving stewardship reports remains 31 March 2021.