Radical plans to introduce new forms of corporate governance are to be watered down, according to reports.
The plans, by banker Derek Higgs, are being changed following protests from company directors.
Company directors have previously voiced concerns over whether the review would be detrimental on corporate governance.
Several insurers have said the Higgs review went beyond its remit.
Directors are also said to be concerned that exemptions from the rules would not be recognised by bodies such as the Pensions Investment Research Consultant.
