The Financial Reporting Council (FRC) is seeking three pension funds to join a new investor advisory group to aid its understanding of key areas of concerns and risks.
The group, which will meet four times a year, will feedback to the accounting and auditing regulator on opportunities and areas of focus, key concerns and emerging risks, auditing, and various regulatory codes, such as the UK Corporate Governance Code.
Further advice and input will be sought on FRC thematic reviews and ad-hoc projects across the four two-hour meetings.
The group will also comprise asset managers, sell-side analysts, ratings agencies, proxy advisers, and sovereign wealth funds, with the regulator envisaging an "ideal split" including three pension funds out of 12 overall members.
Nominations to the group are requested by 18 May, with successful applicants informed by 1 June.
The group comes after the FRC came under fire for "useless" and "toothless" action ahead of the collapse of construction giant Carillion earlier this year. The Work and Pensions Committee had criticised the watchdog for failing to act before it was too late, although the FRC said it did not have the powers to do so.
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