FRC publishes AGM best practice report

The Financial Reporting Council (FRC) has published a report, AGMs: An Opportunity for Change, which reviews how listed companies conducted their AGMs this year against the backdrop of the Covid-19 pandemic. The report also sets out best practice guidance as to how listed companies could conduct their AGMs in 2021. The FRC reviewed AGMs held between … Read more

Criminal proceedings instituted against individuals for false and misleading statements

The Financial Conduct Authority (FCA) has announced that it has begun criminal proceedings against the former chief executive, the former chief financial officer and the former finance director of Redcentric Plc. The company issued unaudited interim results in November 2015 and audited final year results in June 2016 which it is alleged materially misstated its net debt … Read more

Government response on corporate transparency and Companies House consultation

The Department for Business, Energy and Industrial Strategy (BEIS) has published its response following its consultation on options to increase corporate transparency and enhance the role of Companies House. The key changes, which BEIS consulted on in 2019, are: Knowing who is setting up, managing and controlling companies – The government will introduce compulsory digital identity verification checks … Read more

Covid-19 – shareholder meeting relaxations extended

The government has made regulations that extend the relaxations to the company meeting requirements in the Companies Act, which were introduced as a result of the Covid-19 pandemic, to 30 December 2020. Under the relaxations, which are set out in the Corporate Insolvency and Governance Act 2020 (see our earlier post on this issue), shareholder meetings can take … Read more

Updated ICSA guidance on the duties under the Companies Act 2006

ICSA, the Chartered Governance Institute, has updated its guidance note on directors’ duties under the Companies Act 2006. It now includes a section on the requirement to report on compliance with the section 172 duty to promote the success of the company. The guidance is particularly aimed at public companies but will also be useful … Read more

Further implementation of Shareholder Rights Directive II

New regulations, the Companies (Shareholders’ Rights to Voting Confirmations) Regulations 2020, will introduce new provisions into the Companies Act 2006 in relation to shareholder voting at company meetings from 3 September 2020. The changes are required to implement provisions in the EU directive amending the Shareholder Rights Directive (EU/2017/828) (SRD II). SRD II seeks to … Read more

Consolidated corporate Covid-19 update

This Covid-19 update briefing summarises the major pieces of legislation and guidance which have been published in relation to UK corporate law over the last few months as a result of the pandemic. Please click here to see the briefing.   Read more

Consolidated corporate update January to June 2020

This half-yearly update briefing summarises the major developments in UK corporate law and regulation which have occurred over the last six months and which will be of relevance to UK listed companies. Please click here to see the briefing.   Read more

Covid-19 – latest developments for corporate practitioners

Further guidance for companies has been published in light of the Covid-19 pandemic. Company meetings Shareholder meetings – Relaxations to the company meeting requirements contained in the Companies Act 2006 (as well as the meeting requirements for certain other entities) came into force on 26 June 2020. Under the relaxations, which were made by the … Read more