In this issue:

- Japan Releases Exposure Draft of New Corporate Governance Code

- Launch of Shanghai-Hong Kong Stock Connect

- SEC and NYSE Developments

- Noteworthy US Securities Law Litigation

- Recent SEC/DOJ Enforcement Matters

- Executive Compensation & Employee Benefits Developments

- Directive Regarding Disclosure of Non-Financial and Diversity Information Published in Official Journal

- ESMA Publishes Transparency Directive Consultation on European Electronic Access Point

- ESMA Technical Advice and Consultation on MiFID II

- Draft Commission Delegated Regulation Published on Technical Standards on Major Holdings

- ESMA 22nd Version: Questions and Answers on Prospectuses

- ESMA Publishes Consultation Paper on Draft Prospectus Standards

- Takeover Panel’s Response Statement: Post-Offer Undertakings and Intention Statements

- Takeover Panel Publishes Response Statement on Miscellaneous Amendments to the Takeover Code

- Takeover Panel Issue Practice Statement on Entering Into Talks During a Restricted Period

- BIS Consults on EU Audit Reform

- FRC Consult on Impact of EU Reform on Auditing and Ethical Standards

- BIS Publishes Discussion Paper on the Register of People with Significant Control

- BIS Consultation on Exceptions to Ban on Corporate Directors

- GC100 and Investor Group publishes Statement on Directors’ Remuneration

- NAPF Publish Corporate Governance Policy and Voting Guidelines 2014/15

- Guidelines Monitoring Group Publishes Seventh Report on Walker Guidelines & Conformity

- QCA 2014 Audit Committee Guide

- Progress Report on the Kay Review

- Investor Forum Launched to Promote Long Term Investment

- Corporate Reporting Review Published by FRC

- Statistics Show Marked Increase of Women on Boards

- Guidance on Retail Bond Prospectuses Published by the UKLA

- UKLA Publishes Ninth Bulletin for Primary Market Participants

- Transparency Directive Policy Statement: Response to Consultation on Interim Management Statements

- Investment Management Association publishes Transaction Guidelines

- FSMA 2000 (Market Abuse) Regulations 2014

- Chancellor’s 2014 Autumn Statement

- Bank Recovery and Resolution (No.2) Order

- Transparency International Guidance on Countering Small Bribes

- Excerpt from Japan Releases Exposure Draft of New Corporate Governance Code:

On 12 December 2014, Japan’s Financial Services Agency released and solicited comments on an exposure draft of a new corporate governance code to be made applicable to listed companies in Japan. The draft was prepared by a cabinet-appointed council of experts, with the Financial Services Agency and the Tokyo Stock Exchange serving as joint secretariat.