Corporate—looking ahead to 2017

Corporate—looking ahead to 2017

Corporate analysis: As a new year begins, Nicholas Veigh, professional support lawyer at Mishcon de Reya, and John King, partner at FDR Law, share their thoughts and predictions on corporate law developments for 2017.

Legal developments and practical impact

What are likely going to be the most important cases in 2017 and why?

John King (JK): Everything is going to follow on from the Supreme Court decision in R (on the application of Miller and Dos Santos) v Secretary of State for Exiting the European Union and associated references, as to whether the government needs a vote in Parliament to give formal notice of its intention to leave the EU. This is the case that our clients are most concerned about. The Supreme Court sat in December 2016, but a formal ruling is unlikely to come until early January 2017. I can’t imagine for political reasons that there will be an appeal to the European Court of Justice if the decision goes against the government.

What are likely to be the most significant legislative and regulatory developments and why?

Nicholas McVeigh (NM): Although it is difficult to predict with confidence what will be the key developments next year in light of uncertainty as to the impact of Brexit on legislative reform, corporate transparency is one of the key areas in which we expect to see continued legislative and regulatory change in 2017. The implementation of the Fourth Money Laundering Directive 2015/849/EU (MLD4), which is required by the end of June, will perhaps be the most significant development in UK company law in the coming year.

PSC Register

The introduction in April 2016 of a requirement for most UK companies and LLPs to identify and record the people who ultimately own or control them on a ‘register of people with significant control’ (PSC Register), and to file that information on the public register at Companies House, was a fundamental change in UK company

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