UK: Revised Stewardship Code Issued by Financial Reporting Council

Connecticut Enacts Paid Family and Medical Leave

The Financial Reporting Council’s revised voluntary Stewardship Code will replace the existing 2012 Code for reporting years starting on or after 1 Jan 2020. Pension scheme trustees should consider if they want to be signatories or how they could incorporate its principles.

The revised code follows a 2019 consultation, different corporate governance reviews, and an increasing focus on environmental, social and governance factors of concern to investors and regulators. It applies to a much broader range of asset classes (not just equities) and sets substantially higher expectations for investor stewardship policy and practice than the minimum UK regulatory requirements.

The code comprises a series of “apply and explain” principles that apply to asset managers, asset owners, and to service providers. Signatories are subject to associated reporting requirements. 

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Katie Bromley
by Katie Bromley

Principal, Mercer Wealth

Fiona Webster
by Fiona Webster

Principal, Mercer’s Law & Policy Group

Stephanie Rosseau
by Stephanie Rosseau

Principal, Mercer’s Law & Policy Group

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