Recent additions to Corporate Notes

Recent additions to our Corporate Notes blog include a look at new guidelines on disapplying pre-emption rights, an overview of the Investment Association Principles of Remuneration for 2023, as well as a summary of the FRC consultation on the Audit Committee Standard. Read more

FRC consultation on Audit Committee Standard

The Financial Reporting Council (FRC) has launched a consultation on a draft minimum Standard for audit committees of FTSE 350 companies in relation to external audit. As part of the reform of audit and corporate governance in the UK, the government announced in May 2022 that it will give the Audit, Reporting and Governance Authority (ARGA) – the new successor regulator … Read more

Investment Association Principles of Remuneration for 2023

The Investment Association (IA) has published its annual letter to remuneration committee chairs setting out shareholder expectations for 2023, as well as an updated version of its Principles of Remuneration. In its letter to remuneration committee chairs, the IA highlights the key areas of focus for its members when considering the remuneration practices of companies in the forthcoming … Read more

New guidelines on disapplying pre-emption rights

The Pre-Emption Group (PEG) has published a revised Statement of Principles for the disapplication of pre-emption rights, along with new template resolutions. PEG is the group that represents listed companies, investors and intermediaries, and issues best practice guidance and documents for companies’ annual resolutions to disapply pre-emption rights. The revised Principles implement one of the recommendations of … Read more

Recent additions to Corporate Notes

Recent additions to our Corporate Notes blog include a look at the FRC’s annual reviews of reporting in 2021/22, an overview of the Law Society and CLLS’ updated practice note on the electronic execution of documents, as well as a summary of three business interruption insurance claims. Read more

Business interruption insurance claims

The court has considered three claims in relation to insurance cover for business interruption losses in the context of the Covid-19 pandemic. The claimants in the three cases (Stonegate, Greggs and Various Eateries) all operated in the hospitality industry and had various locations across the UK. In each case, the insurers did not dispute that … Read more

Updated practice note on electronic execution of documents

The Law Society and the City of London Law Society (CLLS) have published an updated version of their practice note on the electronic execution of documents. The changes made reflect developments since the practice note was first published in 2016, including the more widespread use of e-signing platforms and the publication in September 2019 of a … Read more

FRC publishes reviews of reporting in 2021/22

The Financial Reporting Council (FRC) has published its annual review of corporate reporting for 2021/22 and its annual review of corporate governance reporting for 2022. Review of corporate governance reporting The FRC’s annual review of corporate governance reporting discusses the quality of reporting against the UK Corporate Governance Code in 2022 and its expectations for companies reporting in … Read more

Recent additions to Corporate Notes

Recent additions to our Corporate Notes blog include a look at the Supreme Court’s ruling on the duty to creditors, an overview of the commencement of further provisions relating to the new register of overseas entities owning UK property, as well as a summary of the findings of the TCFD report on climate-related financial disclosures. … Read more