This book provides a critical assessment of the development of the Stewardship Code 2020, which sets out principles regarding the role of institutional investors in corporate governance. It discusses how the regulatory framework for stewardship evolved before and after the financial crisis, and how that evolution resulted in the 2020 Code. It then critiques the Code from a practical and academic perspective, as well as evaluating the wider regulatory framework; in particular, the position of the FRC (ARGA). The book concludes by offering insight into different pathways that the evolution of stewardship may continue to take. Stewardship Codes modelled on the U.K.'s original 2010 version have been introduced in numerous markets and as such the book will be relevant for an international audience of academics, regulators and policymakers in financial regulation, investment regulation and financial services.

Daniel Cash is a Senior Lecturer in Law at Aston University. Daniel completed his PhD in Durham University in 2016, and his research is exclusively concerned with the Credit Rating Industry. He has written extensively on the subject, and is the author of a number of articles and four books, Regulation and the Credit Rating Agencies: Restraining Ancillary Services, The Role of Credit Rating Agencies in Responsible Finance, Regulation and the Global Financial Crisis: Impact, Regulatory Responses, and Beyond, and Sustainable Rating Agencies vs Credit Rating Agencies: The Battle to Serve the Mainstream Investor. Robert Goddard has taught at the university level for more than 20 years, focusing on corporate law, corporate governance, financial regulation and taxation. He has a record of teaching innovation, most recently seen in the development of interdisciplinary modules exploring fraud, bribery and corruption. Robert has published widely within the corporate law field, and has had his work cited in the English High Court and Singapore Court of Appeal.