Controversy delays new corporate code

The introduction of new corporate governance laws have been set back in order to address the level of criticism facing the report completed by Derek Higgs. The Financial Reporting Council (FRC), which instructed the review of corporate governance standards, has now formed a group of specialists to come up with a revised draft by July this year. The new corporate governance code had originally been expected to be enforced by 1 July this year but there are indications that this will not now be seen until October.