December 1st Deadline to Adopt Executive Compensation Clawback Policies — The Consumer Finance Podcast
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The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill")....more
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
Introduction: Advancing Global Sustainability Reporting Standards - To improve the alignment of sustainability reporting standards globally, the International Financial Reporting Standards Foundation (IFRS) and European...more
Further to the publication of the Economic Crime and Corporate Transparency Act 2023, we are now beginning to see many of the measures that relate to Companies House beginning to bite....more
TYPES OF BUSINESS ENTITIES - There are various entities available in New Zealand from which a business can be operated. The most commonly adopted entities are: 1. Company (including Incorporated Joint Venture (JVC))...more
The Situation: The Australian government has released its widely anticipated exposure draft legislation for the introduction of Australia's national mandatory climate-related financial disclosures regime....more
As the first EU country to transpose the CSRD into national law, France will gradually replace the EFPD with sustainability reporting under the new directive. The Corporate Sustainability Reporting Directive (the CSRD)...more
On 22 January 2024, the FRC published a revised edition of the UK Corporate Governance Code (the Code). This follows on from the consultation on several important changes to the Code that it launched in May 2023 (see our...more
With the new year comes an opportunity to review and re-set the political-law compliance for campaigns, PACs, lobbyists, businesses, and individuals. The following checklist provides a brief overview of upcoming dates on the...more
The Financial Crimes Enforcement Network (“FinCEN”) issued a final rule on November 29, 2023, that extends the deadline for reporting companies to file their initial beneficial ownership reports. The rule extends the filing...more
1. Bank regulation - 1.1 Prudential regulation - The ESRB has published a speech by Christine Lagarde, President of the ECB and Chair of the ESRB, on its first general warning about financial stability risks that it published...more
In the Gulf Cooperation Council (GCC) region, mid-market capitalization investors have a unique opportunity to acquire or establish Shared Service Centers for their portfolio companies. This would provide scale for...more
On 7 November 2023 the FRC issued a press release in relation to its ongoing review and update of the UK Corporate Governance Code (the ”Code”), announcing a big scaling back of revisions it had proposed to the Code. That...more
The European Financial Reporting Advisory Group (EFRAG) and the Global Reporting Initiative (GRI) released a joint statement announcing the interoperability of their respective reporting standards, enabling companies subject...more
California recently enacted two sweeping and unprecedented laws that will require virtually all large companies who do any amount of business in California in any industry or sector to disclose their direct and indirect...more
Following a series of accounting and audit scandals in recent years and what has been described as a “crisis of trust”, the UK Government, regulatory bodies, and institutional investor groups have set out to reform the UK’s...more
This February post noted the introduction of SB 261 which aimed at imposing climate-related financial risk reporting. In the ensuing months, the bill was amended seven times and garnered numerous supporters and opponents. ...more
On September 18, the Taskforce for Nature-related Financial Disclosures (TNFD) released its final set of recommendations and guidance for implementation. The bottom-line message: the health and resilience of nature is no...more
For years, regulators have emphasized that the starting point for maintaining an effective compliance program is understanding the particular risks the company faces. According to Munter, this same concept applies to...more
On 19 July 2023, the Department for Business & Trade published draft regulations (the “Regulations”) which will introduce the new corporate reporting reforms that the Government promised with the conclusion of its Restoring...more
On 24 May 2023, the Financial Reporting Council ("FRC") launched a consultation on proposed revisions to the current (2018) edition UK's Corporate Governance Code (the "Consultation" and the "Code"). This follows on from the...more
The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce is the government agency that compiles statistics about the U.S. economy, including the U.S. gross domestic product (GDP). BEA also compiles statistics...more
The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce requires an incorporated U.S. business enterprise or an equivalent unincorporated U.S. business enterprise in which a foreign person or entity owns or...more
The newly-enacted Financial Data Transparency Act (FDTA) has the potential to significantly change the format currently used by issuers and conduit borrowers in submitting financial information to the Municipal Securities...more
We are experiencing a period of financial turmoil not seen for decades. At the risk of stating the obvious, the intense damage inflicted on government coffers by responding to a pandemic, coupled with the fallout from the...more