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In 2015, the group also submitted its first application to the Financial Reporting Council’s (FRC) UK StewardshipCode. “An An approved StewardshipCode status is basically a baseline entry to pitch for institutional business around responsible investment,” Crossman explained.
Areas to be covered include the effectiveness of the FRC’s StewardshipCode in creating a market for stewardship, interaction between the code and existing stewardship-related rules in the FCA Handbook , and stewardship-related issues raised in the UK government’s updated Green Finance Strategy , released in March.
A recent Financial Conduct Authority (FCA) discussion paper asked for feedback on possible regulatory change needed to support collaborative engagement and systemic stewardship, while the Financial Reporting Council is due to lead a review of its StewardshipCode. Also speaking at the Stewardship Summit, Mark Manning , Strategic Policy Advisor on (..)
The FCA is an observer and provides the secretariat. The FCA’s Vote Reporting Group is asking for comments on its consultation paper by 21 September 2023. The post Make Vote Reporting Template Mandatory, FCA Told appeared first on ESG Investor.
The DWP will assess whether further guidance is needed in H2 2023. . The updated StewardshipCode came into effect from 1 January, 2020, and reflects the increasing importance of ESG factors for investors, as well as expectations for higher standards by regulators. .
The concept of assessing what effective stewardship should look like was first introduced by the FCA in 2019 in a joint effort with the Financial Reporting Council (FRC), setting the groundwork which helped define what the minimum expectations should be for financial services firms investing on behalf of clients and beneficiaries.
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