Financial Times – Accounting watchdog scraps plans for full-scale overhaul of boardroom rules

The Financial Times reports Britain’s accounting watchdog has abandoned most of its overhaul of boardroom rules, a move that it says protects competitiveness but which critics say marks the unravelling of long-promised corporate governance reforms.

The paper says the scrapped plans include greater requirements for diversity reporting and new responsibilities around environmental, social and governance issues. The body’s chief executive, Richard Moriarty, is quoted saying the changes will support “UK economic growth and competitiveness”.