Stop 'box ticking' on best practice, UK watchdog tells companies

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Too many of Britain's companies use formulaic explanations about diversity, climate change policy and leadership that provide little detail for investors, the Financial Reporting Council (FRC) said on Thursday. The FRC supervises how companies comply with its Stewardship Code of governance best practice, requiring them to explain in a "clear and compelling" way if they choose to ignore some parts. "Unfortunately, some companies continue to treat the Code as a box-ticking exercise," the FRC said in a review.



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