UK - Corporate governance review author Derek Higgs has admitted the first draft of the document was "too prescriptive and harsh".
Speaking at a meeting of the Association of Chartered Certified Accountants, Higgs said the draft felt too much like regulation and it needed redrafting.
Former NAPF investment committee chairman Alan Rubenstein launched an attack on the report last month, where he dismissed it as “irrelevant”.
And Liberty International chairman Donald Gordon has called the proposals unrealistic, impractical and likely to be detrimental to business if adopted.
However, NAPF chief executive Christine Farnish has tirelessly defended the conclusions reached by Higgs, saying that it was the prerogative of any company board to decide if parts of the code were not appropriate and explain why.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point