CHAPTER 2: CORPORATE GOVERNANCE
The UK’s Combined Code is probably the most evolved corporate governance regime in the EU and companies listed on the UK Stock Exchange (not AIM) must comply with it. In addition, companies with listings in the US also have to comply with the Sarbanes-Oxley Act of 2002 (‘SOX’).
The UK’s Combined Code is a principles-based governance regime which requires listed companies to comply with its provisions or to provide an explanation for not doing so. SOX, on the other hand, is a rules-based statutory regime, which requires adherence to its provisions on risk of penalty for both the corporation and its officers.
Both regimes require organizations to develop, implement and maintain internal control frameworks that will ...
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