<P> The UK Corporate Governance Code ( from here on referred to as `` the Code '' ) is a part of UK company law with a set of principles of good corporate governance aimed at companies listed on the London Stock Exchange . It is overseen by the Financial Reporting Council and its importance derives from the Financial Conduct Authority 's Listing Rules . The Listing Rules themselves are given statutory authority under the Financial Services and Markets Act 2000 and require that public listed companies disclose how they have complied with the code , and explain where they have not applied the code -- in what the code refers to as ' comply or explain ' . Private companies are also encouraged to conform ; however there is no requirement for disclosure of compliance in private company accounts . The Code adopts a principles - based approach in the sense that it provides general guidelines of best practice . This contrasts with a rules - based approach which rigidly defines exact provisions that must be adhered to . In 2017 , it was announced that the Financial Reporting Council would amend the Code to require companies to `` comply or explain '' with a requirement to have elected employee representatives on company boards . </P>
<P> The UK Corporate Governance Code ( from here on referred to as `` the Code '' ) is a part of UK company law with a set of principles of good corporate governance aimed at companies listed on the London Stock Exchange . It is overseen by the Financial Reporting Council and its importance derives from the Financial Conduct Authority 's Listing Rules . The Listing Rules themselves are given statutory authority under the Financial Services and Markets Act 2000 and require that public listed companies disclose how they have complied with the code , and explain where they have not applied the code -- in what the code refers to as ' comply or explain ' . Private companies are also encouraged to conform ; however there is no requirement for disclosure of compliance in private company accounts . The Code adopts a principles - based approach in the sense that it provides general guidelines of best practice . This contrasts with a rules - based approach which rigidly defines exact provisions that must be adhered to . In 2017 , it was announced that the Financial Reporting Council would amend the Code to require companies to `` comply or explain '' with a requirement to have elected employee representatives on company boards . </P>
who does uk corporate governance code apply to
who does uk corporate governance code apply to
companies listed on the London Stock Exchange
companies listed on the London Stock Exchange