UK Corporate Update - May 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.

FRC seeks views on the role of auditors in relation to preliminary announcements

The Financial Reporting Council has published a discussion paper seeking views on a number of options in relation to preliminary announcements and the role of auditors.

What do companies and investors want from digital reporting?

As part of its project on future digital reporting, the Financial Reporting Lab has published a report on the characteristics that preparers, investors and others would like from a digitally-enabled system of corporate reporting.

Investment Association calls for end to quarterly reporting

The Investment Association has published guidance on long-term reporting, which includes a call for companies to stop publishing quarterly reports and to focus more on longer term performance.

New Pre-Emption Monitoring Report emphasizes need for best practice

The Pre-Emption Group has published a Monitoring Report on the implementation of its March 2015 Statement of Principles and the use of its template resolutions for pre-emption disapplication requests.

EU consultation on cross border mobility

The EU Commission launched an online consultation seeking views on the issues involved in cross border mergers, divisions and conversions and the use of digital tools during a company’s lifecycle. 

New EU directive to introduce say on pay, govern shareholder intermediaries and establish rules for related party transactions to take effect in 2019

A new directive to establish requirements to encourage shareholder engagement in the long term and increase transparency has completed the EU legislative process and will need to be implemented in Member States by 10 June 2019.

The new Prospectus Regulation: a step closer

The Council of the EU has adopted the new prospectus regulation.

Part VII insurance business transfer schemes – guidance on the FCA’s approach

The Financial Conduct Authority is consulting on proposed guidance on its approach to reviewing insurance business transfer schemes under Part VII of the Financial Services and Markets Act 2000.