PIRC has published the 2011 edition of its Shareholder Voting Guidelines, which set out PIRC's views on good corporate practice for listed companies.
Issues of particular note include that PIRC believes that all listed companies, not just those in the FTSE 350, should hold full elections of their directors on an annual basis. PIRC however notes that companies will need to prepare for this change and, as announced in 2010, it will allow extra time for companies to implement this provision of the Governance Code. Accordingly, until 2012, it will study company disclosures on a case-by-case basis, rather than making across the board voting recommendations on this issue. PIRC also supports the new provision of the Governance Code that requires evaluation to be conducted externally at least every 3 years but again believes that this requirement should be extended to all companies in the FTSE AllShare.
The guidelines are not available online, but can be ordered via the PIRC website.