The FCA has published guidance on the requirement for listed companies to publish accounts in the European Single Electronic Format (ESEF) and the Department for Business, Energy and Industrial Strategy (BEIS) has updated its policy paper on ESEF. Under DTR 4.1.14, issuers will have to publish their annual reports in the ESEF (see our earlier … Read more

The Financial Reporting Council (FRC) has published a consolidated and updated edition of its guidance for companies on corporate governance and reporting in light of Covid-19 and the Government has extended the temporary restrictions on winding up petitions. FRC guidance The new FRC guidance note incorporates and supersedes the guidance published by the FRC in March (see … Read more

The Financial Conduct Authority (FCA) has published Primary Market Bulletin 31 (PMB 31), and through it publicised two recent reviews it has undertaken into delayed disclosure of inside information and corporate governance disclosures by listed issuers. Delayed disclosure of inside information The FCA has reviewed the delayed disclosure of inside information notifications (DDIINs) it has received. Under Article 17(4) of … Read more

The FCA has published policy statement (PS20/14) which confirms that it intends to delay the introduction of the European Single Electronic Format (ESEF) requirements for annual reports in the UK. The delay is contingent on the Brexit transition period ending on 31 December 2020, as it is only once the transition period ends that the FCA is … Read more

The Financial Reporting Council (FRC) has published its annual letter to audit committee chairs and finance directors on key developments and areas for improvement that listed companies should consider when preparing their next annual report and accounts. Key points discussed in the letter include: 2020 year-end reporting environment – The letter notes that the annual report in 2021 will … Read more

The FRC has published a thematic review on climate reporting. The report follows a review by the FRC into climate-related issues as they affect governance, reporting and audit, and the roles of a range of market participants. It sets out the FRC’s views on current market practice and expectations for the future. The key findings in … Read more

The government has published a roadmap towards mandatory climate-related disclosures and a report from the UK’s joint Government-Regulator TCFD taskforce. These reports form part of the government’s green finance strategy. The roadmap sets out an indicative path towards mandatory climate-related disclosures across the UK economy which are aligned with the recommendations of the TCFD. The proposals cover seven … Read more

The Financial Reporting Council (FRC) has published its annual review of corporate reporting for 2019/2020. The Review sets out the FRC Corporate Reporting Review team’s key findings following its review of annual reports and accounts for reporting periods to 31 October 2019. In relation to narrative reporting, the FRC says that the topics most often raised … Read more