Recent additions to Corporate Notes

Recent additions to our Corporate Notes blog include a summary of the updated institutional investor voting guidelines and the FRC’s report on creating positive corporate culture, a look at the FCA’s latest Primary Market Bulletin, HM Treasury’s response on proposed power to block listings on national security grounds and an overview of the Government’s consultation … Read more

HM Treasury response on proposed power to block listings on national security grounds

The Treasury has published a summary of responses to its consultation on a proposed new power to block listings on national security grounds and says it will proceed with the proposals. The Treasury published the consultation in light of concerns about possible links between a listing and national security, for example if the proceeds of a listing … Read more

Latest FCA Primary Market Bulletin 37

The FCA has published Primary Market Bulletin 37, in which it reminds issuers about the requirement to file annual reports in ESEF, discusses the release of regulatory information service (RIS) announcements and summarises its review of sponsors’ requests for guidance on conflicts. ESEF The FCA reminds issuers that annual financial reports must be filed in ESEF … Read more

FRC report on creating positive corporate culture

The Financial Reporting Council (FRC) has published a report on creating positive culture. It aims to promote good practice amongst companies by looking at how companies develop, embed, monitor and assess culture across their organisations. The report follows the FRC’s 2016 report on corporate culture and the role of boards, the findings of which informed the 2018 UK … Read more

Updated institutional investor voting guidelines

Institutional Shareholder Services (ISS) has published its UK proxy voting guidelines updates for 2022 and Glass Lewis has updated its Approach to Executive Compensation in the Context of the Covid-19 Pandemic. ISS Proxy Voting Guidelines The key changes to the current ISS UK proxy voting guidelines are set out in an executive summary document and include: Board diversity – In addition … Read more

Recent additions to Corporate Notes

Recent additions to our Corporate Notes blog include a summary of the FCA’s changes to the Listing Rules on eligibility criteria and the FRC’s annual review of the UK Corporate Governance Code, a look at the latest IA guidance on executive remuneration, the censure and fine imposed on a company for breach of the AIM … Read more

Law Commission paper on smart legal contracts

The Law Commission has published a paper which confirms that English law can accommodate smart legal contracts without the need for statutory reform. Smart legal contracts are legally binding contracts in which some or all obligations are performed automatically by a computer program that is usually run on a blockchain network. They are touted as … Read more

Consultation on minor changes to the Takeover Code

The Takeover Panel has published a consultation paper  (PCP 2021/1) in which it is proposing a number of minor changes to the Takeover Code. It has also announced that, with immediate effect, it will only accept documents in electronic form. It will no longer accept hard copies. The changes it is proposing in the consultation … Read more