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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