FRC SAYS INVESTORS NEED TO EXPLAIN PROXY AGENCY USE

摘要

The Financial Reporting Council (FRC) has announced changes to its Stewardship Code which will compel investors to account for they way in which they manage conflict of interest issues, and their use of proxy voting agencies. The changes come on the back of criticism of proxy voting and advisory agencies - which include the likes of Manifest, Pirc and ISS, which itself advises a quarter of shareholders with interests in FTSE-Iisted groups.