The Quoted Companies Alliance (‘QCA’) have recently published the revised and updated QCA Corporate Governance Code (‘the Code’). The Code is designed to provide growth companies guidelines for effective corporate governance, suitable for their size and resources.
The QCA Corporate Governance Code is a flexible set of principles designed to help growing companies run better, for their staff, investors, partners and the wider stakeholder community.
It is applied by nearly 900 companies, including 93% of those whose shares are traded on AIM, many constituents of the Main Market, three-quarters of companies quoted on the Aquis Stock Exchange and by private companies which may opt to float in the future.
The QCA is proud to have developed the Code over more than a decade, building on guidance documents for smaller quoted companies that date back to 1993.
The QCA regard the Code principles as having been drawn up “by members, for members”, and consult with many of them when it periodically reviews the Code. The fact that many non-members have chosen to follow and report on it – especially since the London Stock Exchange asked AIM constituents to apply a recognised governance code in 2018 – is regarded as a vote of confidence.
However, even though the QCA oversees the Code it does not monitor its application.
The ‘Code Document’, a detailed breakdown of each principle and how the QCA thinks it can be best applied, is provided as part of QCA membership, which also includes free training and advice on adopting good practice.
The Code is available free to members. For non-members a baseline for their understanding of the Code is that they have invested in their own copy of the Code Document. The QCA will track the paid version as a “Verified Version”.
The QCA will maintain a full list of buyers of the Code’s latest iteration.
For further details and to obtain a copy of the Code click on the link above.