The Upper Tribunal has upheld the FCA’s decision that the CEO and CFO of Metro Bank were knowingly concerned in the Bank’s breach of the Listing Rules....more
6/19/2025
/ Banking Sector ,
Board of Directors ,
Corporate Governance ,
Corporate Misconduct ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Penalties ,
Personal Liability ,
Publicly-Traded Companies ,
Tribunals ,
UK
The ‘Jewel in the Crown’ of London’s markets, AIM has been a central feature of UK capital markets for the last 30 years providing growing companies with access to capital and liquidity. ...more
4/8/2025
/ AIM ,
Capital Markets ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Initial Public Offering (IPO) ,
London Stock Exchange ,
Publicly-Traded Companies ,
Regulatory Reform ,
Securities Regulation ,
Shareholders ,
UK
A new Takeover Panel consultation proposes to narrow the scope of the companies subject to the Takeover Code (the “Code”). ...more
Following on from the consultation earlier this year, the FCA has published feedback and detailed proposals which will transform the current listing regime. The FCA is proposing to create a single listing category for UK...more
The FRC has set out its expectations, in its Annual Review of Corporate Reporting, for the coming reporting season amidst the current economic background of high inflation, high interest rates and ongoing economic...more
The Pre-emption Group has published a revised Statement of Principles permitting companies to disapply the statutory pre-emption rights for up to 20% (on a 10% + 10% basis) of their issued share capital in any one year. This...more
Five years on significant progress has been made in reaching the goal of “At Least One by 21” (ie. every FTSE 100 company to have at least one person from a minority ethnic group on its board). At the end of 2021, 89 FTSE 100...more
In 2022, the annual reports of premium listed commercial companies should include a compliance statement setting out whether the company has made disclosures consistent with the “TCFD's recommendations and recommended...more
The FCA has published Primary Market Bulletin No. 36 to introduce specific Task Force on Climate-related Financial Disclosures (TCFD) aligned climate-related disclosure requirements for listed companies and to set out the...more
Building on the work of the Task Force on Climate-Related Financial Disclosures (TCFD), the London Stock Exchange has created a practical guide to help listed and AIM companies effectively disclose and communicate their...more
10/21/2021
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Green Finance ,
London Stock Exchange ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainable Business Practices ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
As part of the UK government’s roadmap towards mandatory climate-related disclosures across the entire UK economy by 2025, the FCA is proposing to extend the application of its new climate-related disclosure requirements to...more
6/23/2021
/ Capital Markets ,
Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Issuers ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
Listing Rules ,
Policy Statement ,
Publicly-Traded Companies ,
UK
The UK government has made another stride in its green finance ambitions – a consultation on mandatory climate-related financial disclosures for UK large corporates. The proposals, based on the Financial Stability Board...more
3/25/2021
/ Climate Change ,
Consultation ,
Corporate Counsel ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Stability Board ,
Financial Statements ,
Green Finance ,
HM Treasury ,
Publicly-Traded Companies ,
UK
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)
The Final Hampton-Alexander Review regarding women on boards has been published. This business-led independent Review has achieved significant progress - women now make up around 40%, in aggregate, of the non-executive...more
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 Investment Association (IA) has published its Shareholder Priorities for 2021 setting out investor expectations on (i) climate change (ii) audit quality (iii) stakeholder engagement and (iv) diversity. This year there is...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 Investment Association (IA) has published (i) additional guidance on shareholder expectations for executive remuneration in light of COVID; (ii) its 2021 Principles of Remuneration; and (iii) its statement on executive...more
The London Stock Exchange (‘LSE’) has agreed a public censure and fine of £300,000 with Yü Group plc for breach of Rules 10 and 31 of the AIM Rules for Companies which occurred when the company disclosed inaccurate financial...more
ESMA has updated its CESR recommendations in line with the Prospectus Regulation and has taken this opportunity to clarify its expectations on key areas such as working capital statements and pro forma information. The...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
This year companies have to report for the first time on how the directors have considered stakeholder interests and how the employee voice is reflected in the boardroom. This article examines the new reporting requirements...more
2020 will see companies report against the 2018 UK Corporate Governance Code for the first time. Amongst other things, companies will need to explain the methods used for workforce engagement and provide clear explanations...more
1/30/2020
/ Annual Reports ,
Beneficial Owner ,
Board of Directors ,
Diversity ,
Energy Efficiency ,
Environmental Social & Governance (ESG) ,
Equal Pay ,
Insolvency ,
Libor ,
Merger Controls ,
Mergers ,
Publicly-Traded Companies ,
Reporting Requirements ,
State and Local Government ,
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