FRC seeks powers to prosecute company directors and monitor governance reporting, and suggests expansion of remuneration committees’ role.
The UK's governance watchdog has confirmed its request for new powers over company directors, and recommended an extended role for remuneration committees as part of its response to the government's consultation on corporate governance.
The Financial Reporting Council (FRC) wants government to give it powers to "prosecute all directors for financial reporting breaches and associated issues of integrity". Currently, the FRC has powers only over accountants and actuaries.
The regulator also suggests companies begin reporting how they have "di
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