Which principle, more typical in regulatory codes, is frequently neglected in codes developed by investor groups?

The principle of conflicts of interest is often overlooked in codes developed by investor groups, primarily because these codes tend to prioritize promoting best practices and ethical investing over the more complex regulatory issues that might be present in traditional regulatory frameworks.

In regulatory codes, understanding and managing conflicts of interest is critical. These codes are designed to provide clear guidelines on how to handle situations where personal or financial interests could potentially interfere with an individual's or organization’s responsibilities. While investor groups may recognize the importance of addressing conflicts of interest, they might focus more on sustainability and ethical investment practices, resulting in less emphasis on the intricate regulations that govern conflicts of interest.

On the other hand, principles like reporting and transparency, stock lending policies, and voting are typically more straightforward and easier to apply universally across varied investor practices. Hence, while these principles are important, the nuanced nature of conflicts of interest often leads to them being treated with less attention in investor-developed codes compared to thorough regulatory codes.