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🔗 Source: lawslondoninternational.wpcomstaging.com

📊 Size: 56 KB

👤 Author: Vanessa Skiadelli

⬇️ Downloads: 75

Summary

The Wates Corporate Governance Principles for Large Private Companies is a new code issued in the UK, developed from the Corporate Governance Reform project launched in 2016. It applies to large private companies, unlike the existing UK Corporate Governance Code which applies to large public companies. The Wates Principles have 6 general principles addressing board features such as composition, role, and remuneration, but lack detailed 'Provisions' like the UK Code. Instead, it provides 'Guidance' with vague and aspirational language, intended to help companies understand and reflect on the principles. The code will be enforced through companies stating whether they follow it and explaining any 'departures', but its less prescriptive nature may result in fewer departures to explain. Overall, while both codes aim to make boards more effective, the UK Corporate Governance Code is more prescriptive, whereas the Wates Principles are more flexible and recommendatory.

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Description

The Wates Corporate Governance Principles for Large Private Companies is a new code issued in the UK, developed from the Corporate Governance Reform project...

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File Format: PDF
File Size: 56 KB
Pages: 2
Language: EN
Author: Vanessa Skiadelli
Total Downloads: 75
Last Updated: 4 weeks ago

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