Financial Reporting Council

The directors of the top 350 U.K.-listed companies will face re-election every year, instead of holding the typical three-year tenure, under a revised version of the country’s influential corporate governance code.The new code released today says performance-related pay should be aligned to the long-term interests of the company and its...

0 false 18 pt 18 pt 0 0 false false false /* Style Definitions */table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman";mso-ascii-font-family:Cambria;mso-hansi-font-family:Cambria;} U.K regulator the Financial Reporting Council has proposed a series of changes to its Combined Code on Corporate Governance. The new version of the code released for consultation is...

The U.K. is looking at abandoning the “comply or explain” model that underpins its corporate governance code as a way of easing the compliance pressure on companies.The Financial Reporting Council (FRC), the U.K. corporate regulator, revealed that it was considering the move when it published an interim report on its...

The Financial Reporting Council should reject calls to radically revamp its Combined Code on Corporate Governance, according to some of the U.K.’s leading listed companies.The corporate regulator announced a review of the Code earlier this year after criticism that poor governance was a major cause of the financial crisis. Regulation...

A group representing the U.K.’s four main institutional investor bodies has published proposals aimed at giving shareholders a stronger voice in corporate governance issues.The Institutional Shareholders’ Committee (ISC) accepted that the financial crisis showed a need for investors to engage with companies more effectively. Such shareholders have been criticized by...

International Accounting Standards Board chairman Sir David Tweedie has defended the organization’s response to the financial crisis in front of a meeting of European ministers in Luxembourg.Tweedie told European Union finance ministers that he “took very seriously” their concerns about “the pace and substance” of IASB’s accounting standards reform. And...

The regulation of corporate governance practices in the U.K. is “so light touch as to have very little impact at all,” according to the Association of Chartered Certified Accountants. There is “a very clear need for more robust regulation in this area,” the global accountancy body said.The ACCA said regulators...

Corporate reporting is too complex and needs “urgent change,” according to a discussion paper from U.K. regulator the Financial Reporting Council (FRC).The International Accounting Standards Board should overhaul its standards so each one has an easy-to-follow structure with a clear statement of what it is supposed to achieve, the FRC...

The U.K. government has widened its review of corporate governance practices in the banking sector and called for a more radical overhaul of the Combined Code of Corporate Governance that applies to all listed companies.Lord Myners, the minister responsible for financial services, announced that a review of banking governance led...

The U.K’s lead corporate regulator has launched a review of its Combined Code on Corporate Governance, which sets out the governance principles that listed companies are expected to follow.One specific question the Financial Reporting Council will look at is whether the “comply or explain” approach, the cornerstone of the Code,...