An overhaul of the UK consumer law landscape is on the horizon, with the consumer law provisions of the Digital Markets, Competition and Consumers Act 2024 set to take effect on 6 April 2025....more
4/7/2025
/ Antitrust Provisions ,
Consumer Contracts ,
Consumer Protection Laws ,
Enforcement ,
Enterprise Act 2002 ,
New Legislation ,
New Regulations ,
Regulatory Requirements ,
Subscription Services ,
UK ,
UK Competition and Markets Authority (CMA)
On 14 March 2025, the FCA published Primary Market Bulletin 54, which raised concerns around the leaking of inside information by individuals at a company or by its advisers on live M&A transactions. The FCA specifically...more
4/2/2025
/ Acquisitions ,
Board of Directors ,
Confidential Information ,
Contract Terms ,
Corporate Governance ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
FTSE ,
Insider Trading ,
Mergers ,
Publicly-Traded Companies ,
Target Company ,
UK
On 6 February 2025, the House of Lords Financial Services Regulation Committee published a report titled “Naming and shaming: how not to regulate”....more
3/17/2025
/ Corporate Governance ,
Criminal Prosecution ,
Disclosure Requirements ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Requirements ,
Securities Violations ,
UK
In recent years, we have seen more class action securities claims against UK listed companies — akin to US style “stock-drop” litigation.
These claims are typically brought by groups of investors, backed by financing...more
2/6/2025
/ Class Action ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Investors ,
Reporting Requirements ,
Securities Litigation ,
Stock Drop Litigation ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 15 November 2024, the FCA released Primary Market Bulletin 52, offering guidance on compliance with MAR and DTR requirements, particularly in identifying and disclosing inside information, managing shareholder...more
12/3/2024
/ Compliance ,
Consultation ,
Corporate Culture ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Reporting Council (FRC) ,
Fraud ,
Insider Information ,
Market Abuse ,
New Guidance ,
Publicly-Traded Companies ,
Shareholders ,
Stewardship Code ,
Transparency ,
UK ,
White Collar Crimes
On 8 October 2024, the Investment Association (IA) updated its Principles of Remuneration (and supporting guidance) (the IA Principles). These principles, and the accompanying guidance, are significantly more flexible and...more
On 6 September 2024, the Capital Markets Industry Taskforce (CMIT) published the Capital Markets Of Tomorrow report (CMOT). CMOT sets out the “UK elevator pitch” for the reformed UK capital markets, engages in some judicious...more
10/4/2024
/ Capital Markets ,
Climate Change ,
Economic Growth ,
Entrepreneurs ,
Foreign Private Issuers ,
FTSE ,
Investment Opportunities ,
Listing Rules ,
Listing Standards ,
Pension Funds ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Retail Investors ,
Sponsors ,
Stewardship Code ,
UK
On 13 August 2024, the Financial Reporting Council (FRC), as part of a cross-regulatory group comprising the FCA, Companies House, HMRC and Charity Commission for England and Wales, published a discussion paper on the future...more
Major UK Listing Reforms Cut Red Tape for Listed Companies -
The FCA’s radical overhaul of the UK’s listing framework came into effect on 29 July 2024. All premium listed commercial companies have automatically been...more
8/6/2024
/ Business Entities ,
Capital Raising ,
Listing Standards ,
MiFID II ,
New Guidance ,
Prospectus ,
Public Limited Companies (PLC) ,
Regulatory Reform ,
Sponsors ,
Stewardship Code ,
UK
On 29 May 2024, the European Securities and Markets Authority (ESMA) issued a statement on good practices to be followed in relation to pre-close calls with research analysts. The calls take place immediately before the close...more
FCA Issues Reminders on Annual Reporting and LTIP Disclosure Requirements -
On 22 May 2024, the FCA published Primary Market Bulletin 49 (PMB 49) reminding listed companies of certain continuing obligations under the...more
6/5/2024
/ Annual Reports ,
Bribery ,
Corporate Governance ,
Criminal Convictions ,
Disclosure Requirements ,
Employee Incentive Plans ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
Incentives ,
Listing Rules ,
Public Officials ,
Publicly-Traded Companies ,
Sustainability ,
UK ,
UK Bribery Act
On 10 April 2024, the FCA published its consultation paper (CP24/7) on payment optionality for investment research. This followed the Investment Research Review’s report from summer 2023, which recommended that the FCA should...more
The English High Court found that a current risk of unfair trial in Russia justified declining to enforce Russian exclusive jurisdiction clauses.
The English High Court has cleared the way for major aviation insurance...more
5/1/2024
/ Aircraft ,
Aviation Industry ,
Commercial Leases ,
Contract Termination ,
Exclusive Jurisdiction ,
Insurance Industry ,
Material Adverse Change Clauses (MACs) ,
Reinsurance ,
Russia ,
UK ,
Ukraine
On 5 March 2024, the Pre-Emption Group (PEG) published its first report monitoring the use of its updated Statement of Principles on the disapplication of pre-emption rights for UK listed companies. The Principles were...more
4/5/2024
/ Board of Directors ,
Corporate Governance ,
Diversity ,
Enforcement ,
Enforcement Guidance ,
Ethnicity ,
Financial Conduct Authority (FCA) ,
FTSE ,
Information Reports ,
Listing Standards ,
Minorities ,
Publicly-Traded Companies ,
UK
On 23 February 2024, the Investment Association (IA) issued its annual letter to FTSE 350 remuneration committee chairs providing an update on the IA’s Principles of Remuneration and emerging views on remuneration matters....more
3/6/2024
/ Artificial Intelligence ,
Board of Directors ,
Capital Markets ,
Climate Change ,
Competition ,
Corporate Governance ,
Cybersecurity ,
Environmental Social & Governance (ESG) ,
Financial Reporting ,
Financial Reporting Council (FRC) ,
Investors ,
London Stock Exchange ,
Pensions ,
Proxy Voting Guidelines ,
Remuneration ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 20 December 2023, the FCA published consultation paper CP23/31 setting out detailed proposals for the new UK listing regime....more
Major Update on FRC Policy and Reset on Corporate Governance Reforms Plus CMIT Open Letter, With More to Come -
On 7 November 2023, the Financial Reporting Council (FRC) announced a significant and wide-ranging policy...more
On 16 October 2023, Nikhil Rathi, Chief Executive of the FCA, delivered a speech at the City Dinner at Mansion House which describes the FCA’s work in supporting international competitiveness and growth. Amongst other things,...more
11/2/2023
/ Climate Change ,
Consultation ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Green Finance ,
Listing Standards ,
Net Zero ,
New Guidance ,
Publicly-Traded Companies ,
Reporting Requirements ,
Sustainable Business Practices ,
Takeover Bids ,
Takeovers ,
Target Company ,
UK
Companies Invited to Voluntarily Adopt New Nature-related Financial Disclosure Framework -
On 18 September 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) published its final recommendations for...more
10/3/2023
/ Climate Change ,
Consultation ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
IFRS ,
Listing Standards ,
Publicly-Traded Companies ,
Risk Management ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK ,
Voluntary Disclosure
On 10 August 2023, the FCA published Primary Market Bulletin 45, which describes its process for developing its policy position in relation to the new ISSB standards and developing climate-related transition plan guidance for...more
9/5/2023
/ Climate Change ,
Code of Conduct ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Listing Rules ,
Publicly-Traded Companies ,
Ratings ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
New Legislative Measures to Strengthen UK Corporate Reporting -
On 19 July 2023, the draft Companies (Strategic Report and Directors’ Report) (Amendment) Regulations were laid in Parliament....more
8/2/2023
/ Board of Directors ,
Corporate Governance ,
Digital Securities ,
Draft Guidance ,
Financial Conduct Authority (FCA) ,
Financial Reporting Council (FRC) ,
Information Reports ,
MiFID II ,
MTFs ,
New Regulations ,
Performance Reviews ,
Reporting Requirements ,
Research Tools ,
Trading Platforms ,
UK
This edition covers new global sustainability reporting standards, proposals to reform corporate criminal liability laws, the enactment of FSMA 2023, FRC guidance on dividend reporting, Investment Association guidance on...more
7/10/2023
/ Climate Change ,
Corporate Governance ,
Criminal Liability ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSMA ,
IFRS ,
Market Abuse ,
Reporting Requirements ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Transparency ,
UK
This edition covers proposed major reforms to the listing and prospectus regimes, corporate governance reforms largely relating to audit and internal controls, and proposed changes to the Takeover Code affecting the...more
6/5/2023
/ Audits ,
Corporate Governance ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Initial Public Offering (IPO) ,
Listing Rules ,
Listing Standards ,
Proposed Amendments ,
Prospectus ,
Public Consultations ,
Regulatory Agenda ,
UK
This edition covers the FCA’s priorities for the next 12 months, the ICGN statement on post-pandemic AGM practices, Takeover Code changes affecting competitive bids, and a proposed new corporate “failure to prevent fraud”...more
5/2/2023
/ Corporate Governance ,
Corporate Transparency Act ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Fraud ,
Internal Controls ,
Market Abuse ,
Regulatory Standards ,
Takeover Code ,
Takeovers ,
UK
This edition covers upcoming reforms to the UK listing regime, the FCA’s Primary Market Bulletin 44, the launch of a review into the UK investment research landscape, the PLSA’s 2023 Stewardship and Voting Guidelines, and...more
4/3/2023
/ Corporate Governance ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
FTSE ,
HM Treasury ,
Listing Standards ,
MiFID ,
Regulatory Reform ,
Research Reports ,
Shareholders ,
UK