In January, the Financial Reporting Council published the 2024 edition of the UK Corporate Governance Code (“Code”) and updated its guidance for UK listed companies to use when applying the Code. The most significant changes compared to the 2018 edition of the Code introduce new disclosure requirements for the annual report on the effectiveness of a company’s internal controls (backed by a board declaration of effectiveness) and on malus and clawback provisions in directors’ remuneration. This memo summarises the key changes.