United Kingdom: FRC publishes revised UK Corporate Governance Code

The FRC has published the revised version of the UK Corporate Governance Code. As flagged in its policy update statement in November, the revised Code makes much more limited changes than those proposed in the FRC’s initial consultation paper from May 2023. The majority of changes will take effect for financial years beginning on or after 1 January 2025, with the exception of revised Provision 29, which will take effect a year later. The FRC has published updated guidance to sit alongside the revised Code.