Review of the Combined Code of Corporate Governance

In March 2009 the FRC launched a review of the combined code. The full text of the consultation paper, Review of the effectiveness of the combined code: Call for evidence, is available to download from the website of the Financial Reporting Council (FRC). The consultation period closed on 29 May 2009.

Response to the FRC's Review of the Effectiveness of the Combined Code: Call for Evidence
The London Stock Exchange published a response to the FRC review in May 2009 in which they 'note that the current economic conditions have tested the effectiveness of the Code, and propose suggestions for improving the operation of the Code'. The LSE wish to 'reinforce the success of the principles-based, 'comply or explain' approach' and encouraged the FRC to 'consider this review within the broader market context'.

Combined Code of Corporate Governance (2008)

Full text:

The revised version of the Combined Code (June 2008) was published on the FRC website on 27th June 2008 and 'applies to accounting periods beginning on or after 29 June 2008'.

The changes from the previous version of the Combined Code are listed in the FRC publication June 2008 changes to the Combined Code.

Review:

The FRC carried out a review of the Combined Code between April and July 2007. The main findings were announced in the report 2007 Review of the Combined Code: Report on the Main Findings of the Review published in November 2007 and a range of associated documents and responses to the consulation can be found on the Previous reviews and consultations page.

Reading List:

Reading List on the Combined Code of Corporate Governance - articles and books on the Combined Code (2008) in the collection of the Library & Information Service. For information on how you can make use of articles and books in this reading list, please see our guides to the Book Loan Service and Photocopying & Fax Service.

Links: 

• ICSA Guidance Notes - the Institute of Chartered Secretaries and Administrators (ICSA) has published a number of guidance notes which aim to provide practical guidance on the requirements of the Combined Code, including Roles of the Chairman, Chief Executive and Senior Independent Director under the Combined Code and Matters Reserved for the Board.

Combined Code of Corporate Governance (2006)

Full text:

The revised version of the Combined Code (June 2006) cis available from the FRC website and 'applies to accounting periods beginning on or after 1 November 2006'.

Review:

The FRC carried out a review of the Combined Code between July and October 2005. The main findings were announced in a press release (FRC PN 133) issued on December 15th 2005 (The FRC Review of the Combined Code) and four documents relating to the review were published on 18th January 2006. The four documents were announced in the press release FRC Consults on Changes to the Combined Code on 18th January 2006 (FRC PN 139) published on the FRC's Combined Code page and comprised:

• Combined Code review main findings
• Combined Code review summary of responses
• Combined Code review consultation document
• Combined Code review RIA

The consultation closed on 21st April 2006.

Reading List:

Reading List on the Combined Code of Corporate Governance - articles and books on the Combined Code (2006) in the collection of the Library & Information Service. For information on how you can make use of articles and books in this reading list, please see our guides to the Book Loan Service and Photocopying & Fax Service.

Links:

• Combined Code on Corporate Governance : an annotated version for mutual insurers - an annotated version of the Combined Code (2006) published in February 2008 by the Association of Mutual Insurers (AMI) and the Association of Friendly Societies (AFS) with the permission of the FRC.

Archive

Combined Code of Corporate Governance (2003)

The Combined Code (FRC) - full text of the combined code (based on the recommendations set out in the Higgs Report) as published by the Financial Reporting Council on 23rd July 2003. The text (PDF, 87 pages 280 KB) includes the code itself and related guidance (the Turnbull guidance on Internal Control, the Smith guidance on Audit Committees and various items of good practice guidance from the Higgs Report). The code was accompanied by a press release (PN75) entitled 'FRC issues revised Combined Code'.

Combined Code on Corporate Governance (June 1998)

Combined Code on Corporate Governance (1998) - the Combined Code (1998) was published by the London Stock Exchange in June 1998. At the date of publication, the code was annexed to the Stock Exchange Listing Rules.

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