Award

Research Services - Assessing engagement with shareholders and reporting following significant votes against a resolution

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 3 releases in its history.

Award

18 Mar 2022 at 16:29

Award Notice
TenderAmendment

16 Dec 2021 at 12:28

Tender Notice
Tender

15 Dec 2021 at 10:35

Tender Notice
Summary of the contracting process

The Financial Reporting Council (FRC) has completed a tender process for the "Research Services - Assessing engagement with shareholders and reporting following significant votes against a resolution" project, which falls under the research and development services category. This procurement was conducted using an open procedure and was officially published on 15th December 2021. The tender period concluded on 24th January 2022, while the contract, valued at £45,000, commenced on 21st March 2022 and is set to last until 22nd August 2022. The work primarily focuses on assessing shareholder engagement and reporting related to company votes at Annual General Meetings (AGMs), particularly where there are significant dissenting votes.

This opportunity presents valuable prospects for businesses specialising in research and consultancy services, particularly those with a focus on corporate governance, shareholder engagement, and compliance auditing. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprise (VCSE) organisations may find themselves well-positioned to compete, given that the FRC is seeking to promote best practices in transparent reporting and engagement with investors. Additionally, the outcomes of this research could significantly inform future governance practices across companies listed on the FTSE 350 index.

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Notice Information

Notice Title

Research Services - Assessing engagement with shareholders and reporting following significant votes against a resolution

Notice Description

***THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE*** The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. We seek to promote transparency and integrity in business; our work is aimed at investors and others who rely on company accounts, audit and high-quality risk management. As the Competent Authority for audit in the UK, the FRC sets auditing and ethical standards and monitors and enforces audit quality. This project concerns shareholder votes of 20% or more against resolutions at company Annual General Meetings (AGMs). We are interested in how such votes are reported and the level, and quality, of engagement that subsequently takes place between company boards and investors. The aim of the research project was to assess: * The level and quality of companies' reporting against Provision 4 of the Corporate Governance Code and the usefulness of this reporting to shareholders. * The level and quality of engagement between companies and their shareholders following a vote of 20% or more against a proposed resolution. * How this engagement has impacted companies' subsequent actions and subsequent shareholder stewardship, including engagement and voting. The research project supports the work of the Corporate Governance and Stewardship team in the FRC, as well as the broader aims of the FRC, to understand and promote good governance and best practice. The output from the research may be used in an FRC publication(s) and where this is the case the contribution of the contracted research team will be cited and acknowledged appropriately. Scope of the Project The research includes all companies that were constituents of the FTSE 350 index on 1 January 2019 and will cover all AGMs of those companies in 2019, 2020 and 2021. Approach The data for this research is available from the following sources: * The Investment Association's public register * Companies' AGM notices * Companies' statements/updates/announcements (including those of AGM voting results) * Companies' annual reports * Other information sources (e.g. media coverage, stock exchange announcements, stewardship reports, dialogue with IA, etc). The successful bid established the criteria/scale to reliably assess: * Quality of reporting by companies in the areas listed * Quality of engagement between companies and shareholders These criteria should allow for comparisons between companies and between time periods (within the scope of the research sample). Additional information: THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e475fe28-e5ca-4c1a-a086-7c7885e572b1
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/fdccdadc-78a0-4b17-a18c-ff80bdbbd39e
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

CPV Codes

73000000 - Research and development services and related consultancy services

Notice Value(s)

Tender Value
£45,000 Under £100K
Lots Value
Not specified
Awards Value
£45,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Mar 20223 years ago
Submission Deadline
24 Jan 2022Expired
Future Notice Date
Not specified
Award Date
18 Mar 20223 years ago
Contract Period
21 Mar 2022 - 22 Aug 2022 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Head of Procurement
Contact Email
procurement@frc.org.uk
Contact Phone
020 7492 2300

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

KING'S COLLEGE LONDON

Further Information

Notice URLs

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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