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Comply or explain approach
Practical Law UK Glossary 8-107-5967 (Approx. 3 pages)
Glossary
Comply or explain approach
An approach whereby a company either states its compliance with a regulatory provision or explains any non-compliance.
This approach is to be taken by premium listed companies regarding their compliance with the UK Corporate Governance Code (LR 9.8.6R(5), 9.8.6R(6) and 9.8.7R, Listing Rules).
For further information, see Practice note, UK Corporate Governance Code: comply or explain disclosure statement in annual reports.