UK – Financial Reporting Council (FRC)

UK – Financial Reporting Council (FRC) – The UK Stewardship Code for Asset Owners and Managers and for Service Providers – 2010. Covering:

Preface.

The Principles of the Code.

Principle 1 – Institutional Investors should publicly disclose their policy on how they will discharge their stewardship responsibilities.

Principle 2 – Institutional Investors should have a robust policy on managing conflicts of interest in relation to stewardship, and this policy should be publicly disclosed.

Principle 3 – Institutional Investors should monitor their investee companies.

Principle 4 – Institutional Investors should establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value.

Principle 5 – Institutional Investors should be willing to act collectively with other investors where appropriate.

Principle 6 – Institutional Investors should have a clear policy on voting and disclosure of voting activity.

Principle 7 – Institutional Investors should report periodically on their stewardship and voting activities.