The significant areas that have changed following our comments are noted below. A huge thanks to everyone who provided feedback on the SHR draft.
- Changes throughout to make clearer the status of the document i.e. advisory not statutory and what this means in practice.
- A line has been included about publication and submission requirements.
- All references to "golden rules" have been removed.
- The SHR noted an intention to revise the status of its Asset Management Recommended Practice to also be advisory guidance for consistency.
- Further explanation of "key external strategies" added to the document
- “Other local RSLs” has been removed from the examples of key stakeholders who should be consulted.
- Reference to ESG softened slightly to reflect it is not compulsory
- Simplification of language in the sensitivity analysis section.
- Cutting back duplication in key risk triggers section.
- Reference to other non finance aspects of board member's role added
- "Engagement with stakeholders" removed from the illustrative timeline appendix
- The appendix on options appraisal has been amended to state that robust business planning may negate the need for options appraisal when the CEO leaves and that
- Reference added to "People management."
If you have any queries about the above, please contact Alan Stokes, Policy Lead.
