UK Cos. ‘Paying Lip Service’ To Corporate Governance

Law360, London (January 9, 2020, 3:38 PM GMT) -- Companies listed on the London Stock Exchange are using the updated corporate governance code as a “box-ticking” exercise and are failing to improve culture and diversity in their workplaces, the Financial Reporting Council said Thursday.

The auditing watchdog said it has found that larger companies listed on the London exchange are “paying lip service” to its U.K. Corporate Governance Code. The FRC updated the guidance in July 2018 with the aim of improving boardroom culture and rebuilding public trust in British business after a string of corporate scandals, including the collapse of construction giant Carillion.

But the regulator said it found...

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