FRC publishes updated UK Corporate Governance Code and Guidance

The Financial Reporting Council (FRC) has published an updated UK Corporate Governance Code (the Code), most of which will take effect from 1 January 2025.

These revisions will replace the current version of the Code published in 2018.

As foreshadowed in its November 2023 statement, the FRC has taken forward only a small number of changes, with the final product falling far short of the Sarbanes-Oxley style compliance originally outlined in its May 2023 consultation. The published changes to the Code are targeted and minimal, aimed at striking a balance between enhancing transparency and investor confidence whilst supporting UK economic growth and competitiveness.

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