From Morningstar:

Concerns about UK’s economic growth continue in financial markets, as the London Stock Exchange loses its appeal to public companies. An open FCA consultation proposes a simplified listing regime to boost UK growth by attracting more companies to list in London. The FRC also intends to publish an updated version of the UK Corporate Governance Code.

Corporate Governance takes center stage with the FCA’s Consumer Duty, effective since July 31, 2023, aiming to prioritize consumer outcomes in financial services. The regulator is seeking to shift culture and behavior within firms to focus on better consumer outcomes and has introduced a board-level “Consumer Duty Champion” to drive this change.

A new development in ESG investment sees the introduction of new UK sustainability disclosures and four investment labels. Governance is a crucial part of these labels, requiring firms to ensure they have the necessary resources, governance, knowledge, and due diligence in place to achieve the product’s sustainability objective.



Read more: UK Governance in 2024: Change is Coming