MPs expected to back regulations on privately-owned City businesses

The proposals are expected to bring private companies in line with other businesses, in response to scandals like BHSMinisters are preparing to back the idea of extending the governance code for stock market-listed companies to large privately-owned businesses, in response to public anger at a string of scandals including the collapse of BHS.The proposal to extend the City’s governance code to the private sphere was first put forward by the Financial Reporting Council, an independent body