UK Corporate Update - November 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.  

Companies urged to increase Boardroom ethnic diversity

A report seeking to increase the ethnic diversity of UK Boards has been published by the Parker Review Committee.

Report calls for more women in leadership roles

The Hampton-Alexander Review has published a report on improving the gender balance in the leadership of FTSE companies.

Reporting and AGMs 2016/17: recent developments and guidance

Our new Reporting and AGMs 2016/17 publication aims to help listed companies which are starting to prepare their annual reports and plan for the next AGM.

US proxy voting adviser clarifies approach to over-boarding

Institutional Shareholder Services (ISS), the US proxy voting adviser, has announced updates to its Proxy Voting Guidelines for the UK and Ireland.

FRC ranks Stewardship Code signatories to promote better reporting

The Financial Reporting Council has announced that it has categorised signatories to the Stewardship Code into tiers based on the quality of their Code statements.

Large public interest entities to prepare non-financial information statement from 1 January 2017

Regulations to implement the Non-Financial Reporting Directive (2014/95/EU) in the UK have been laid before Parliament. They will apply in relation to financial years commencing on or after 1 January 2017.

Investment Association publishes guidelines on viability statements

The Investment Association has published guidelines setting out the expectations of institutional investors in relation to viability statements prepared by companies under Provision C2.2 of the UK Corporate Governance Code.

Investment Association calls on companies to stop quarterly reporting

The Investment Association has published a public position statement calling for companies to cease reporting quarterly and to refocus reporting on strategic issues.

FRC calls on companies to improve use of alternative performance measures in reports

The Financial Reporting Council has published the findings of its thematic review of the use of alternative performance measures by 20 listed companies in their June 2016 interim statements.

FRC calls for clearer reporting of tax uncertainties

The Financial Reporting Council's Corporate Reporting Review (CRR) team has called for companies to articulate better how they account for tax uncertainties, following a thematic review of tax reporting in annual reports and accounts.

Financial Reporting Lab report: how to improve business model reporting

The Financial Reporting Lab has published a report on business model reporting following a project involving 19 companies, 36 investors and two retail shareholders.

ESMA clarifies exchange rate to be used to calculate MAR PDMR dealing threshold

The European Securities and Markets Authority has published a revised version of its Q&A on the EU Market Abuse Regulation.

FCA to confirm that list of times when disclosure can be delayed is not exhaustive

The Financial Conduct Authority has published a consultation in which it confirms that it will adopt in full the European Securities and Markets Authority's guidelines issued under the Market Abuse Regulation.

Consultation on extension of transparency of corporate ownership rules

The Department for Business, Energy and Industrial Strategy has launched a consultation on extending the UK's register of people with significant control regime to ensure that it satisfies the requirements of Article 30 of the EU Fourth Anti Money Laundering Directive.

Download entire issue (as pdf)