25 Oct 2019
This briefing provides a summary of the UK Stewardship Code 2020 published on 24 October 2019, and notes some of the key points and changes from the version consulted on, including the revised definition of stewardship, its revised structure and the fact that it operates on an “apply and explain” basis.
The briefing also sets out some of the reporting requirements for both asset managers and asset owners, the interaction with the EU Shareholder Rights Directive II and some points arising from the FCA’s Feedback Statement (FS 19/7) on Discussion Paper (DP 19/1) on “building a regulatory framework for effective stewardship”.
This material is provided for general information only. It does not constitute legal or other professional advice.
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