ARTICLE
8 November 2016

FRC Corporate Governance Report

AO
A&O Shearman

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A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On 20 July 2016, The Financial Reporting Council
United Kingdom Corporate/Commercial Law

Corporate Governance

On 20 July 2016, The Financial Reporting Council ("FRC") published a report on the relationship between corporate culture and sustainable growth. This forms part of the FRC's Culture Project. The report recognised the importance and value of a strong, healthy corporate culture. It noted that the board of directors and particularly the chief executive of a company must demonstrate leadership in instilling that culture into all levels of the company. The report also noted the importance of openness and accountability in companies, and how values and incentives must be aligned.

Aiming to improve the perception of corporates amongst the general population, the report also notes how the duty owed by directors to act in the best interests of the company must not be viewed in isolation. The report offers practical methods for corporates to monitor corporate culture, highlight issues with corporate culture and improve accordingly.

The report can be accessed here:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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