UK - The London Stock Exchange urged the government not to legislate to enforce standards of corporate governance.
It argues that it would be more effective to promote best practices.
LSE chairman Don Cruickshank said: “The UK has effective standards of corporate governance, which have contributed to investor confidence in our markets and enhanced their quality and attractiveness to domestic and international companies and investors.”
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.