Corporate weekly highlights—13 June 2019

Corporate weekly highlights—13 June 2019

This week’s edition of Corporate highlights includes the government’s response to the Business, Energy & Industrial Strategy Committee’s Future of Audit report and dispute resolution analysis on an appeal relating to an unfair prejudice case which involved an order to purchase the minority shareholder’s shares (Re Sprintroom Ltd).

In this issue:

Brexit

Financial Services (Miscellaneous) (Amendment) (EU Exit) (No 2) Regulations 2019

SI 2019/1010: This enactment is made in exercise of legislative powers under the European Union (Withdrawal) Act 2018 in preparation for Brexit. This enactment is being made in order ensure a coherent and functioning financial services regulatory regime once the UK leaves the EU. It makes amendments to a number of financial services EU exit statutory instruments and to an EU delegated regulation, correcting errors identified in legislation after it was made, making amendments to ensure consistency between EU exit instruments and introducing a transitional provision. These amendments will ensure that these instruments operate effectively after the UK leaves the EU. It comes into force partly on 11 June 2019, partly on whichever is the later of immediately before exit day or 11 June 2019 and fully on whichever is the later of exit day or 11 June 2019.

For further information, see: LNB News 04/04/2019 35.

Audit

Government responds to BEIS Committee report on the Future of Audit

The Business, Energy and Industrial Strategy Committee (Committee) has published the government’s response to the Committee's report on the Future of Audit. The government's response welcomes the Committee's report on the Future of Audit and suggests that the majority of the Committee's recommendations are matters that will be the subject of consultations that the government has commissioned, or will be commissioning, in this area.

For further information, see: 

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