FCA enforcement action – non-executive Chair fined for disclosing inside information

The Financial Conduct Authority (FCA) has fined Sir Christopher Gent (SCG), the former non-executive Chair of ConvaTec Group Plc, £80,000 for unlawfully disclosing inside information in breach of Article 14(c) of the (then) EU Market Abuse Regulation. The fine follows a warning notice issued to SCG in September 2021 by the FCA proposing to take action against him – … Read more

FCA enforcement action – company censured and executive directors fined for breaches of Listing Rules and MAR

The Financial Conduct Authority (FCA) has censured Carillion and provisionally fined three of the company’s former executive directors for breaches of the Listing Rules and UK Market Abuse Regulation (MAR). Carillion was a construction, project finance and support services business which went into liquidation in January 2018.  In July 2017, Carillion had announced a provision … Read more

Climate reporting – FCA and FRC reviews

The Financial Conduct Authority (FCA) and Financial Reporting Council (FRC) have published two reports on the quality of climate-related reporting by listed companies. For financial years beginning on or after 1 January 2021, premium listed commercial companies are required to include a statement in their annual financial report setting out whether they have made disclosures … Read more

Financial Services and Markets Bill 2022-23 published

A Financial Services and Markets Bill has been published as part of the government’s Future Regulatory Framework Review (FRF Review). The FRF Review was established to determine how the UK’s financial services regulatory framework should be amended post-Brexit. The Bill covers a wide range of topics including revoking EU retained laws relating to financial services and markets. For listed … Read more

‘On the horizon’ podcast

We have released our ‘on the horizon’ podcast, which is a short summary of the more material developments we expect to see in the next 6-12 months that will be of interest to listed companies. The podcast is available here: ‘on the horizon’ podcast. Read more

Consolidated corporate update January to June 2022

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from January to June 2022, and which are of relevance to UK listed companies. Please click here to see the full briefing. Read more

FCA consultation on restructuring the UK listing regime

The Financial Conduct Authority (FCA) has published a discussion paper (DP22/2) in which it is seeking further views on the structure of the UK listing regime. In March 2021 the Government published the outcome of the Review of the UK listing regime undertaken by Lord Hill. It made a number of recommendations to seek to … Read more

FCA publishes final rules on diversity-related disclosures by listed companies

The Financial Conduct Authority (FCA) has published a policy statement (PS22/3) setting out rule changes that will require premium and standard listed companies to make disclosures in relation to gender and ethnic diversity at board and executive management level for financial years starting on or after 1 April 2022. The FCA published a consultation paper … Read more