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Regulator tells fund managers: show us how you hold companies to account

The FRC’s revamped Stewardship Code comes after a government review suggested it might have to be scrapped it if was not tightened up

Fund managers will have to spell out the practical outcomes of their corporate governance efforts, including whether they led to decisions to buy or sell shares, under a new set of principles issued by the UK’s governance watchdog.

The Financial Reporting Council, the City regulator that looks after corporate governance as well as the auditing sector, released its new Stewardship Code on October 24.

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