Corporate Weekly Highlights - 14 September 2017

This week's edition of Corporate highlights includes news on a government call for increased transparency around workplace diversity in the UK's largest companies, updates on HM Treasury's CSDR consultation responses and the release of the Financial Conduct Authority's Handbook Notice 47.

Corporate Governance

UK's largest companies urged to increase transparency around workplace diversity

The Business Minister, Margot James, has called on the largest companies in the UK to increase transparency around diversity policies and targets. The call comes ahead of the first meeting of the Business Diversity and Inclusion Group which is tasked to coordinate action to increase diversity and inclusion in the workplace.

The group will seek to establish what information listed companies could disclose to help tackle barriers in the workplace. It will build on a number of government-backed reviews into workplace diversity which have set targets to improve diversity in the workplace including aiming for 33% of FTSE 350 board positions to be filled by women by 2020.

The Financial Reporting Council (FRC) will consider the government's proposals as part of a review of its code later this year.

For details see news, LNB News 07/09/2017 150


Equity Capital Markets

HMT publishes CSDR consultation responses

HM Treasury has released responses to its consultation on the implementation of the Central Securities Depositories Regulation EU 909/2014 (CSDR), first issued in December 2015. The consultation closed on 4 February 2016 and HM Treasury received responses from the British Bankers' Association, the Association for Financial Markets in Europe, the City of London Law Society and Euroclear UK & Ireland.

HM Treasury will publish the responses in two stages. The first paper gives a summary of responses submitted and HM Treasury decisions in relation to the CSDR. A further response focusing on the Uncertificated Securities (Amendment) Regulations 2017 will be published in due course.

For details see news, LNB News 11/09/2017 73


FCA Handbook Notice 47 available

The Financial Conduct Authority (FCA) has published Handbook Notice 47, setting out changes to the Handbook, consultation feedback not covered by separate policy statements and board dates for 2017 and 2018.

On 12 September 2017 the FCA board made changes to certain instruments, including amongst others, the Listing Rules (Corporate Governance Code) Instrument 2017. In summary, this instrument makes changes to ensure that issuers report against the correct version of the FCA's UK Corporate Governance Code in line with their annual accounting period and also ensures that issuers comply with the FRC's decision that the new Code should apply for accounting periods beginning on or after 17 June 2016.

For details see news, LNB News 13/09/2017 66


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Dates for your diary

Date Subjects covered
8 September 2017 Deadline for responses to the Financial Reporting Council's consultation on revised guidance on money laundering. For details see LNB News 26/06/2017 91.
8 September 2017 Deadline for responses to the London Stock Exchange's discussion paper on its review of the AIM Rules. For details see LNB News 11/07/2017 127.
22 September 2017 Deadline for responses to consultation on proposed amendments to the Takeover Code. For details see LNB News 12/07/2017 111.
28 September 2017 Deadline for comments on three ESMA consultations relating to the Prospectus Regulation: Consultation paper on the format and content of the prospectus (ESMA 31-62-532); Consultation paper on the EU Growth prospectus (ESMA 31-62-649); and Consultation paper on scrutiny and approval (ESMA 31-62-650). For details see LNB News 06/07/2017 144.

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