FRC Issues UK Corporate Governance Code

June 07, 2010
Following a year long consultation process, the Financial Reporting Council has published the new UK Corporate Governance Code (formerly the Combined Code). The new Code applies directly to companies with a Premium Listing of equity securities and now on a “comply or explain” basis to non-UK companies with a Premium Listing of equity securities. Although largely restating the current Code, the new Code introduces a number of structural changes and new requirements aimed at improving corporate governance. This update examines the most significant changes introduced by the new Code.