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Governance in brief — BEIS Select Committee inquiry report calls for reforms to the UK Corporate Governance Code and greater enforcement

Published on: 25 May 2017

A next step in the corporate governance reform agenda has been the publication in April 2017 of the BEIS Select Committee inquiry report. The key recommendations coming out of the report are explored in our Governance in brief, covering: 

  • Improved stakeholder engagement by companies (s172, CA2006)
  • Reform and reporting of executive pay
  • The role and professional development of non-executive directors
  • The importance of gender and ethnic diversity to encourage diverse boardroom thinking
  • Board composition and appointment of board members
  • Thorough, independent and consistent board evaluation
  • A new corporate governance code and enforcement for large private companies
  • Recommendations for investors and the Stewardship Code 

The next Government is expected to continue with elements of corporate governance reform and the Financial Reporting Council (FRC) has indicated it will be consulting on changes to the UK Corporate Governance Code in the autumn.

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