The UK government will turn to the trade body for British buyout firms in its effort to introduce a code of conduct for private companies as part of a wider review of boardroom standards, FN's sister publication Private Equity News reports. 

The Financial Reporting Council — the UK's standard setter for corporate governance practices — will work with the British Private Equity and Venture Capital Association, Institute of Directors, Confederation of British Industry, Institute for Family Business to develop "a voluntary set of corporate governance principles", the Department for Business, Energy and Industrial Strategy said in a statement.