Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether she has had discussions with the Financial Reporting Council over the level of compliance with the corporate governance code among FTSE 350 firms.

The Department has regular discussions with the Financial Reporting Council about the operation of the UK Corporate Governance Code and related issues. The Financial Reporting Council is responsible for maintaining the Code. Its annual Review of Corporate Governance Reporting assesses how companies have reported on their governance in line with the principles and provisions of the Code. The most recent, published in November 2022 assessed 100 FTSE 350 and smaller listed companies.