FRC UK Stewardship Code Consultation: PLSA Consultation response

19 February 2025

Throughout 2024 and into 2025, the FRC have been engaging with the industry on its proposals for the revised Stewardship Code. We are grateful to the FRC for the opportunities to engage and hope this will continue as responses to the consultation are considered, and the new Code implemented.  

In our response we highlight to the FRC how the Stewardship Code must continue to be a beacon of best practice in terms of supporting investors to hold companies to account. Issues of particular concern to PLSA members are: 

• The revised definition and the implications on effective stewardship.  
• The proposals not to consult on guidance which will be crucial in supporting the updated code.  
• The negative impact on shareholder rights of some of the proposals intended to streamline the Code principles.