Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Engagement definition

What does Engagement mean? Engagement describes the ongoing dialogue and other stewardship activities by asset managers and institutional investors with their investee companies to monitor performance and governance, raise concerns and seek change. It includes routine meetings with boards and management, written correspondence, participation in consultations, proxy voting, and escalation (for example, collaborative engagement, public statements, filing or co‑filing resolutions, or requisitioning meetings) where issues persist. The term is descriptive rather than a defined legal term, but it is embedded in regulation and codes. In the UK, FCA COBS 2.2B (implementing and retaining aspects of SRD II) and the UK Stewardship Code 2020 expect firms...

UK Corporate Governance: Board Duties and Reporting on Workforce and Stakeholder Engagement (section 172 CA 2006, UKCG Code 2018/2024, Wates Principles, 2018 Regulations)

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Practice notes

FRC Culture Report

In July 2016, the Financial Reporting Council released a study on corporate culture (the FRC Culture Report), examining how organisational culture influences a company’s Governance. A central conclusion was that strong governance relies on companies engaging with, and reporting to, their stakeholders. The government reinforced this in its August 2017 response to the green paper on Corporate governance reform, highlighting better stakeholder Engagement and reporting. The resulting reform package included proposals to:

introduce secondary legislation requiring large public and private companies to explain how their directors meet section 172 of the Companies Act 2006 (CA 2006), including taking account of employees and other interests when seeking to promote the company’s success
invite the FRC to consult on creating a new UKCG Code principle underlining the need to strengthen the voice of employees and other non‑shareholder interests at board level
support industry‑led measures by asking the Chartered Governance Institute (CGI) and the Investment Association (IA) to complete their joint guidance on practical ways companies can engage with...

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Web page updated on 22/05/2026

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