The FSA has now announced that with effect from 6 December 2010, it will become a regulatory requirement that asset managers disclose clearly on their websites, or if they do not have a website in another accessible form, their commitment to the Stewardship Code or their alternative investment strategy. This requirement does not apply to venture capital firms which are managing investments for professional clients that are not natural persons. For details of the Stewardship Code, see “UK Stewardship Code for Corporate Investors”, DechertOnPoint (July 2010).

The Financial Reporting Council has also published some examples of wording used by asset managers in respect of commitment to the Stewardship Code on its website: www.frc.org.uk/corporate/ stewardshipstatements.cfm