UK Corporate Update - July 2018

Welcome to the July 2018 issue of UK Corporate Update. This update will be of most use to General Counsel, Company Secretaries and other executives involved in corporate governance, company law and other aspects of listed and unlisted company management. 

The following topics are covered in this issue. Download the entire issue as a PDF. 

Updated UK Corporate Governance Code published

The Financial Reporting Council has published final versions of an updated UK Corporate Governance Code and associated Guidance on Board Effectiveness.

FRC tells companies what it expects under the new UK Corporate Governance Code

Companies, investors and proxy advisers bear a share of the responsibility for making the revised UK Corporate Governance Code a success. This is the message Sir Win Bischoff, the Chair of the Financial Reporting Council, has given to market participants in letters sent out following publication of the revised Code.

New disclosures to shine a spotlight on energy efficiency

Draft regulations have been published to require new disclosures about emissions, energy use and energy efficiency action in directors' reports or energy and carbon reports.

Parent company not liable for failings of locally-managed subsidiary

In a case with truly atrocious facts, the Court of Appeal has found that Unilever plc did not owe a duty of care to the staff of a Kenyan subsidiary. The main reason was that the subsidiary was managed locally, with no reference to the parent company on key matters.

The European Union (Withdrawal) Act 2018: How will it affect UK laws and regulations?

The UK government has succeeded in passing the critical piece of legislation needed to prepare the UK's legal system for its withdrawal from the EU.

A Cross-Border Guide to Joint Ventures

To help businesses navigate the legal challenges of international joint ventures, we have updated our Cross-border Guide to Joint Ventures which now covers 26 countries.

UK Corporate News from August

This is the last edition of UK Corporate Update. Please see our monthly At a glance: UK governance and risk publication for a round-up of developments affecting UK and UK-listed businesses.