The Government has published its long-awaited White Paper on the reform of the UK’s audit, corporate reporting and corporate governance system including a package of measures aimed at improving the UK’s audit, corporate...more
3/19/2021
/ Audits ,
Board of Directors ,
Consultation ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Internal Controls ,
Proposed Regulation ,
Public Interest Entities ,
Publicly-Traded Companies ,
Reporting Requirements ,
UK ,
UK Companies Acts ,
White Papers
The FCA has welcomed Lord Hill’s recommendations from the UK Listings Review, launched by HM Treasury last November.
The review has highlighted that the listing regime is in need of reform and now is the time to act....more
3/4/2021
/ Capital Formation ,
Capital Raising ,
Corporate Governance ,
Dual Class Share Structures ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Initial Public Offering (IPO) ,
Listing Standards ,
Prospectus ,
Publicly-Traded Companies ,
Retail Investors ,
Special Purpose Acquisition Companies (SPACs)
Executive pay has been a hot topic for a number of years but the uncertainty created by the pandemic has resulted in an increased level of scrutiny of public company pay decisions and revised related proxy voting...more
1/27/2021
/ AIM ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Disclosure Requirements ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
Glass Lewis ,
Ireland ,
Proxy Statements ,
Proxy Voting Guidelines ,
Publicly-Traded Companies ,
Remuneration ,
Time Extensions ,
UK
The Financial Conduct Authority (FCA) has published Primary Market Bulletin No.32 (PMB No.32) to remind issuers of the changes to market rules as a result of Brexit. Separately the QCA and UHY Hacker Young have published...more
The Financial Conduct Authority (FCA) conducted a review of Delayed Disclosure of Inside Information (DDII) notifications which identified a number of areas where it will be increasing its oversight in the future. This note...more
The FCA are making changes to the way TR-1 Forms (notifications of major shareholdings) are submitted pursuant to DTR 5. Investors in Main Market companies are being advised to complete the new 2-step registration process,...more
This edition of the Primary Market Bulletin includes an update on the implementation of the European Single Electronic Format, COVID temporary policy measures on corporate reporting and a reminder for issuers and their...more
11/12/2020
/ Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Issuers ,
Disclosure Requirements ,
Electronic Filing ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
Insider Information ,
Relief Measures ,
UK
In this draft note the FCA confirms the well-established position that the issue of new securities pursuant to a scheme of arrangement (scheme) under Part 26 of the Companies Act 2006 does not constitute an offer of...more
The FCA has published a Decision Notice and fined the former CEO of WorldSpreads Ltd for engaging in market abuse (dissemination, manipulating transactions and false or misleading impressions) and banned him from performing...more
The FCA has published a public censure against an AIM company, Redcentric PLC (“Redcentric”), for committing market abuse by publishing false information about its debt and cash positions. As an IT firm providing services...more
The FCA have published temporary measures on the publication of half-yearly financial reports along with commentary on (i) addressing coronavirus-related uncertainties in the ‘going concern’ assessment and (ii) their...more
With effect from 27 April 2020, the Listing Rules were amended to require issuers with equity and debt securities admitted to the Official List to ensure that a document is publicly available in the National Storage Mechanism...more
The FCA is launching a new National Storage Mechanism (NSM) portal, currently scheduled for 6 April 2020.
Under the new system, all submitters to the NSM will be required to have an ESS (Electronic Submission System)...more
The FCA has published a special edition of its Primary Market Bulletin which provides key commentary for issuers and market participants in light of the coronavirus pandemic.
Ongoing disclosure under the Market Abuse...more
On 11 December 2019, a Regulation amending the Market Abuse Regulation and the Prospectus Regulation was published. The aim of these amendments is to increase the attractiveness of SME Growth Markets by reducing some of the...more
12/16/2019
/ AIM ,
Capital Formation ,
Capital Markets ,
Corporate Governance ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Insider Information ,
London Stock Exchange ,
Market Abuse ,
Prospectus ,
Prospectus Regulation (PR3) ,
Small and Medium-Sized Enterprises (SMEs) ,
UK
The FCA has published decision notices fining Cathay International Holdings Ltd, its CEO and Finance Director for breach of the Listing Principles and DTRs. Mark Steward, Executive Director of Enforcement and Market...more
The FCA, in Primary Market Bulletin No.20 (‘PMB’), confirms the phasing out of the name “UKLA”; the creation of a one-stop shop portal for transaction reviews and issuer management interactions; publication of new technical...more