Pillar 3
National regulators are required to implement laws and regulations requiring firms to make pillar 3 disclosures. These rules are based on two European Directives. You can find out more about these requirements as follows:
Other European countries have transposed the relevant European Directives into their national laws.
Stewardship Code
The Stewardship Code “aims to enhance the quality of engagement between institutional investors and companies to help improve long-term returns to shareholders and the efficient exercise of governance responsibilities.” It sets out good practice on engagement with investee companies and is to be applied by asset managers on a “comply or explain” basis. The Code can be found at the Financial Review Council.
FSA rule COBS 2.2.3R requires a firm other than a venture capital firm, which is managing investments for a professional client that is not a natural person must disclose clearly on its website, or if it does not have a website in other accessible form:
1 - the nature of its commitment to the Financial Reporting Council's Stewardship Code; or
2 - where it does not commit to the Code, its alternative investment strategy.
Remuneration
[Pending final rules]
