The Financial Reporting Council announced in a press release on June 3, 2025, that it has published a revised stewardship code which will take effect from January 1, 2026.

Its key features include:

  • Updated definition of stewardship: focuses on the principle of stewardship as the creation of long-term sustainable value for clients and beneficiaries.
  • Reduced reporting burden: shorter 'how to report' prompts replace detailed reporting expectations. The aim is to reduce reporting volume by 20-30 per cent while maintaining quality.
  • Targeted Principles: The Code now includes dedicated Principles for different types of signatories, including asset owners, asset managers, and for the first time, specific Principles for proxy advisors, investment consultants, and engagement service providers.
  • New guidance: Optional guidance will provide useful tips and examples to support effective implementation, particularly for those managing non-equity asset classes.


Contacts

Lesley Browning
Lesley Browning
Partner
Email
lesley.browning@nortonrosefulbright.com
T: +44 20 7444 2448 / +44 77 1030 3311
Shane O'Reilly
Shane O'Reilly
Partner
Email
shane.o'reilly@nortonrosefulbright.com
T: +44 (20) 74443895

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