UK Corporate Update - December 2016

The following topics are covered in this issue. Click on the link in the right hand column to read the full article or download the entire issue as a PDF. 

New duty to report on payment practices
The Department for Business, Energy and Industrial Strategy sets out how the duty of large businesses to report on payment practices is to be implemented.

Regulated Information – new rules for announcements
From 1 January 2017, the Financial Conduct Authority is encouraging issuers to comply with new obligations when they announce regulated information.

Green paper on corporate governance reform
The Government has published a Green Paper on Corporate Governance Reform.

Prospectus Regulation – text agreed
The text of a new Prospectus Regulation has been agreed by the European Parliament, the Council of the European Union and the European Commission.

Europe agrees new directive to introduce say on pay, govern shareholder intermediaries and establish rules for related party transactions
Political agreement has been reached on a new directive to encourage shareholder engagement in the long term and increase transparency.

Financial Reporting Council seeks additional powers to enforce corporate governance rules
Following his recent evidence to the BEIS Select Committee inquiry into corporate governance, FRC Chief Executive Stephen Haddrill has written to the Committee setting out the FRC’s recommendations and how they could be implemented.