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The Financial Reporting Council (FRC) has announced the successful signatories to the UK Stewardship Code following the latest round of applications, meaning there are now 297 signatories to the code, representing £52.3tn worth of assets under management.
The number of signatories to the UK Stewardship Code includes 199 asset managers, 77 asset owners and 21 service providers.
Some signatories have taken up the voluntary reporting measures introduced in July, which the FRC has been “encouraged” to see as it aims to reduce the length of their reporting as intended.
The FRC has also invited signatories to review the interim changes to reporting for Stewardship Code Signatories as they prepare for their next report under the current Code.
A formal consultation is currently taking place on the council’s proposals to amend the UK Stewardship Code until Wednesday 19 February.
At its latest webinar, Kate O’Neill, the director of stakeholder engagement and corporate affairs, Mark Babington, the executive director of regulatory standards, and Andrea Tweedie, head of stewardship, discussed the stakeholder feedback heard so far.
Babington said: “It’s great to see the number of signatories to the UK Stewardship Code continuing to grow and even better to see that some have already begun to apply the measures we introduced last summer, which has had the desired outcome of shorter reports.”
Following the consultation, the FRC plans to publish an updated Stewardship Code that will come into effect in 2026.
Those submitting reports this year should continue reporting to the 2020 Code.
