UK Corporate Update - April 2017

The following topics are covered in this issue. Click on the link in the right hand column to read the full article or download the entire issue as a PDF. 

FCA to clarify rules for sponsors

The Financial Conduct Authority will publish more information on how it supervises sponsors.

Issuers to classify regulatory announcements from 1 October

From 1 October 2017 issuers will need to include a LEI and classify the information included in a regulatory announcement.

ICSA updates its terms of reference for audit committees

ICSA: the Governance Institute has updated its terms of reference for audit committees.

FTSE 350 urged to improve diversity and inclusion

Business minister Margot James has written to the Chief Executives of all FTSE 350 companies, calling on them to improve diversity in the workplace.

ICAEW guidance highlights when intragroup loans can be distributions

The Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Scotland have published updated guidance on realised and distributable profits under the Companies Act 2006.

Joint Committee on Human Rights calls for a tougher approach to human rights reporting

The House of Lords and House of Commons Joint Committee on Human Rights has highlighted the short-comings of the Modern Slavery Act 2015.

FRC to publish names of companies whose reports and accounts it has reviewed

The Financial Reporting Council’s Conduct Committee has published a revised set of its operating procedures for reviewing company reports.

Takeover Panel lines up for fixture with Rangers FC Chairman

The Takeover Panel has initiated proceedings to seek an order requiring Mr. David King, the Chairman of Rangers FC, to make an offer for the football club under Rule 9 of the Takeover Code.

Takeover Panel clarifies pre-announcement responsibilities

The Takeover Panel has made a series of amendments to the Takeover Code, including clarification of pre-announcement responsibilities.

Updated PIRC investor guidelines for 2017

PIRC (Pensions Investment Research Consultants), the independent shareholder advisory body, has updated its Shareholder Voting Guidelines.