UK Corporate Update - March 2017
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.
Corporates required to update the KYC information they provide to banks and advisers
HM Treasury has published a further consultation on the transposition of the EU Fourth Money Laundering Directive, together with draft regulations. This includes an obligation for UK corporates to respond promptly to requests for information from regulated firms such as banks and external advisers who are required to carry out customer due diligence under the Anti-Money Laundering regime, and to update them if the information changes.
Follow your companies to monitor their filings
Companies House has launched a new "Follow" service which sends you an email notification when companies you follow make a filing with Companies House. Anyone can follow any company registered at Companies House, and Companies House suggests that people follow their own companies to help protect against fraudulent filings.
FCA publishes proposals to reform the IPO process
The Financial Conduct Authority has published proposals to reform the way that information about UK IPOs is made available to the market. If implemented, these will have a significant impact on UK IPO timetables.
Prospectus Rules to be updated to reflect revised exemptions
The Financial Conduct Authority has published its latest quarterly consultation, which includes proposed changes to the Prospectus Rules to mirror the new EU Prospectus Regulation and some transitional provisions relating to the UK Corporate Governance Code.
FinTech: EU Commission sees both opportunities and challenges
The EU Commission’s stance on the FinTech industry has been set out in its recently published consultation paper.