On 13 August 2024, the Financial Reporting Council (FRC), as part of a cross-regulatory group comprising the FCA, Companies House, HMRC and Charity Commission for England and Wales, published a discussion paper on the future...more
Major UK Listing Reforms Cut Red Tape for Listed Companies -
The FCA’s radical overhaul of the UK’s listing framework came into effect on 29 July 2024. All premium listed commercial companies have automatically been...more
8/6/2024
/ Business Entities ,
Capital Raising ,
Listing Standards ,
MiFID II ,
New Guidance ,
Prospectus ,
Public Limited Companies (PLC) ,
Regulatory Reform ,
Sponsors ,
Stewardship Code ,
UK
On 26 July 2024, the FCA published consultation papers on a new public offers and admissions to trading regime to replace the existing UK Prospectus Regulation, and on proposals to establish public offer platforms (POPs) as a...more
The new regime modernises the listing framework while maintaining robust standards to protect investors and ensure market integrity.
On 11 July 2024, the FCA released the final rules for the new UK listing regime, which...more
On 29 May 2024, the European Securities and Markets Authority (ESMA) issued a statement on good practices to be followed in relation to pre-close calls with research analysts. The calls take place immediately before the close...more
FCA Issues Reminders on Annual Reporting and LTIP Disclosure Requirements -
On 22 May 2024, the FCA published Primary Market Bulletin 49 (PMB 49) reminding listed companies of certain continuing obligations under the...more
6/5/2024
/ Annual Reports ,
Bribery ,
Corporate Governance ,
Criminal Convictions ,
Disclosure Requirements ,
Employee Incentive Plans ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
Incentives ,
Listing Rules ,
Public Officials ,
Publicly-Traded Companies ,
Sustainability ,
UK ,
UK Bribery Act
While class actions are well established in the US, they are increasingly common in the UK, driven by market volatility, availability of litigation funding, legal reforms, regulatory settlements, and growing scrutiny of...more
5/29/2024
/ Acquisitions ,
Class Action ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
FSMA ,
Mergers ,
Opt-Outs ,
Publicly-Traded Companies ,
Risk Mitigation ,
Shareholder Litigation ,
Shareholders ,
UK
On 10 April 2024, the FCA published its consultation paper (CP24/7) on payment optionality for investment research. This followed the Investment Research Review’s report from summer 2023, which recommended that the FCA should...more
On 5 March 2024, the Pre-Emption Group (PEG) published its first report monitoring the use of its updated Statement of Principles on the disapplication of pre-emption rights for UK listed companies. The Principles were...more
4/5/2024
/ Board of Directors ,
Corporate Governance ,
Diversity ,
Enforcement ,
Enforcement Guidance ,
Ethnicity ,
Financial Conduct Authority (FCA) ,
FTSE ,
Information Reports ,
Listing Standards ,
Minorities ,
Publicly-Traded Companies ,
UK
UK Chancellor launches consultation on the proposed Private Intermittent Securities and Capital Exchange System (PISCES) as part of the Spring Budget.
On 6 March 2024, HM Treasury published a consultation paper seeking...more
3/7/2024
/ Capital Raising ,
Consultation ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services and Markets Act ,
HM Treasury ,
Privately Held Corporations ,
Retail Investors ,
Sandbox ,
Trading Platforms ,
Trading Policies ,
UK
On 23 February 2024, the Investment Association (IA) issued its annual letter to FTSE 350 remuneration committee chairs providing an update on the IA’s Principles of Remuneration and emerging views on remuneration matters....more
3/6/2024
/ Artificial Intelligence ,
Board of Directors ,
Capital Markets ,
Climate Change ,
Competition ,
Corporate Governance ,
Cybersecurity ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Financial Reporting Council (FRC) ,
Investors ,
London Stock Exchange ,
Pensions ,
Proxy Voting Guidelines ,
Remuneration ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 20 December 2023, the FCA published consultation paper CP23/31 setting out detailed proposals for the new UK listing regime....more
This publication provides an overview of the top trending issues as we approach this year’s AGM and reporting season. We highlight key areas of AGM practices and reporting that will need to adapt to recent legal and...more
1/15/2024
/ Artificial Intelligence ,
Climate Change ,
Corporate Governance ,
Cybersecurity ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Investors ,
Proxy Season ,
Proxy Voting Guidelines ,
Publicly-Traded Companies ,
Reporting Requirements ,
UK
An overview of the key developments around reforming the UK capital markets regime following Lord Hill's UK Listings Review, launched as part of the UK government's plan to strengthen the UK's position as a leading global...more
The consultation paper confirms a radical approach to bolster the international competitiveness of the UK markets and return to a disclosure-based listing framework.
The FCA today published consultation paper CP23/31...more
Major Update on FRC Policy and Reset on Corporate Governance Reforms Plus CMIT Open Letter, With More to Come -
On 7 November 2023, the Financial Reporting Council (FRC) announced a significant and wide-ranging policy...more
The FRC’s future work will be assessed through the lens of the UK’s economic growth and international competitiveness.
On 7 November 2023, the FRC announced a significant and wide-ranging policy update which included a...more
On 16 October 2023, Nikhil Rathi, Chief Executive of the FCA, delivered a speech at the City Dinner at Mansion House which describes the FCA’s work in supporting international competitiveness and growth. Amongst other things,...more
11/2/2023
/ Climate Change ,
Consultation ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Green Finance ,
Listing Standards ,
Net Zero ,
New Guidance ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainable Business Practices ,
Takeover Bids ,
Takeovers ,
Target Company ,
UK
Companies had raised serious concerns about the additional red tape that the proposed reporting obligations would require.
On 16 October 2023, the UK government withdrew the draft Companies (Strategic Report and...more
The purpose of this document is to provide an overview of the key developments around reforming the UK capital markets regime following Lord Hill’s UK Listings Review, launched on 19 November 2020 as part of the UK...more
10/12/2023
/ Accounting Standards ,
Acquisitions ,
Capital Markets ,
Capital Raising ,
Complex Corporate Transactions ,
Initial Public Offering (IPO) ,
Listing Standards ,
Mergers ,
Public Offerings ,
Publicly-Traded Companies ,
Shareholder Approval ,
UK ,
UK Regulatory Reforms
Companies Invited to Voluntarily Adopt New Nature-related Financial Disclosure Framework -
On 18 September 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) published its final recommendations for...more
10/3/2023
/ Climate Change ,
Consultation ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
IFRS ,
Listing Standards ,
Publicly-Traded Companies ,
Risk Management ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK ,
Voluntary Disclosure
On 10 August 2023, the FCA published Primary Market Bulletin 45, which describes its process for developing its policy position in relation to the new ISSB standards and developing climate-related transition plan guidance for...more
9/5/2023
/ Climate Change ,
Code of Conduct ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Listing Rules ,
Publicly-Traded Companies ,
Ratings ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
New Legislative Measures to Strengthen UK Corporate Reporting -
On 19 July 2023, the draft Companies (Strategic Report and Directors’ Report) (Amendment) Regulations were laid in Parliament....more
8/2/2023
/ Board of Directors ,
Corporate Governance ,
Digital Securities ,
Draft Guidance ,
Financial Conduct Authority (FCA) ,
Financial Reporting Council (FRC) ,
Information Reports ,
MiFID II ,
MTFs ,
New Regulations ,
Performance Reviews ,
Reporting Requirements ,
Research Tools ,
Trading Platforms ,
UK
The FCA reveals its initial thinking on the regulatory framework for primary multilateral trading facilities and public offer platforms.
On 13 July 2023, the FCA published its fifth and sixth engagement papers to solicit...more
This edition covers new global sustainability reporting standards, proposals to reform corporate criminal liability laws, the enactment of FSMA 2023, FRC guidance on dividend reporting, Investment Association guidance on...more
7/10/2023
/ Climate Change ,
Corporate Governance ,
Criminal Liability ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSMA ,
IFRS ,
Market Abuse ,
Reporting Requirements ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Transparency ,
UK