The Financial Conduct Authority and the Financial Reporting Council (FRC) have recently consulted on updates to the UK’s corporate governance and stewardship codes: the FRC published an updated UK Corporate Governance Code in July 2018; and an updated UK Stewardship Code is due to be published this summer.

The two are welcome developments, in line with the FRC’s stated mission to promote transparency and integrity in business.

However, there is a third limb to this framework which is playing a vital role – securities litigation under sections 90 and 90A of the Financial Services and Markets Act 2000.

This article was first published in The Law Society Gazette on 15 July 2019.


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