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High Pay Centre ‘Stewardship Code’ consultation submission

HPC has issued our response to the Financial Reporting Council's consultation on the new Stewardship Code

HPC's response to the Financial Reporting Council's consultation on the new Stewardship Code sets out our view on the standards that should be set for investors, in terms of their oversight of the assets they invest in.

Investors have considerable power over the practices of the companies that they buy shares in or lend money, including their approach to pay issues and their broader environmental and social impact. Therefore, the new Code is critically important. We found much to welcome in the draft published by the FRC, including:

At the same time, there are a number of simple measures that would considerably strengthen the code and better align the practices of the investment industry with the interests of wider society. These include:

We hope to see these suggested amendments when the final version of the code is published in Summer 2019.

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Posted on 1 April 2019

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