Financial Reporting Council

Who the Financial Reporting Council is

The Financial Reporting Council (FRC) is the United Kingdom's independent regulator responsible for promoting high-quality corporate reporting, auditing and actuarial work, and for setting standards of corporate governance and stewardship. It publishes and monitors the UK Corporate Governance Code and the UK Stewardship Code, oversees the audit profession, and takes enforcement action where standards are not met.

How its work relates to our clients

The FRC's codes shape the conduct of the companies our clients invest in and of the managers who steward those investments. Strong governance and effective stewardship protect the long-term value of the businesses held in client portfolios, so the FRC's work is directly relevant to the duty of care we owe our clients.

UK Corporate Governance Code

The UK Corporate Governance Code sets standards for board leadership, effectiveness, remuneration and accountability for companies with a premium listing. When we evaluate companies and pooled funds, we pay attention to whether boards apply the Code in substance as well as in form, including board composition, audit and risk oversight, and the quality of their reporting.

UK Stewardship Code

The UK Stewardship Code sets expectations for how investors engage with the companies they hold and discharge their stewardship responsibilities. It is organised around twelve principles covering stewardship policy and resources, engagement practices, voting, collaboration, escalation and reporting.

SUI Securities supports the aims of the UK Stewardship Code. Our portfolios are built primarily on pooled funds and index strategies, so day-to-day stewardship, engagement and voting are carried out by the fund managers we appoint. We take care to select managers whose stewardship policy, resources and reporting meet the Code's standards, and we monitor their stewardship reporting as part of our ongoing review of each strategy.

The FRC publishes the list of signatories to the UK Stewardship Code, together with their reports, on its website at frc.org.uk. We encourage clients to review the stewardship reports of the managers whose funds they hold.

Audit quality and financial reporting

Reliable financial reporting and independent audit are the foundation of informed investment decisions. The FRC sets auditing, accounting and reporting standards, monitors their application, and oversees the professional bodies that regulate auditors and accountants. We consider audit quality and the quality of financial disclosures when assessing investments, and we note significant FRC enforcement outcomes as part of that assessment.

Our regulatory status

SUI Securities Ltd is not regulated or supervised by the FRC; the FRC regulates auditors, actuaries and the accountancy profession, and sets the corporate governance and stewardship codes described above. Our regulatory position is described in the disclaimer on this site, and nothing on this page should be read as suggesting otherwise.

Contact and further information

Questions about the information on this page can be raised through the inquiry form on our homepage. The FRC's codes, signatory list and guidance are published at frc.org.uk.