Weekly highlights

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Latest Corporate News

FRC publishes first guidance on AI use in the audit profession

The Financial Reporting Council (FRC) has published its first guidance on the use of artificial intelligence (AI) in the audit profession, accompanied by a thematic review of certification processes and controls for technology and automated tools at the UK’s six largest audit firms. The guidance explains how AI can be used to enhance audit work and clarifies the FRC’s expectations regarding the proportionate and appropriate documentation of tools that use AI. It is intended to assist auditors and central teams at audit firms in developing and using AI tools, while also setting out regulatory expectations for third-party technology providers. The guidance is not prescriptive and does not introduce new regulatory requirements.

FCA publishes Handbook Notice No 131

The Financial Conduct Authority  (FCA) has published Handbook Notice No 131, which includes changes to the FCA Handbook and material made by the FCA ERPC and Board on 9 May 2025, 22 May 2025, 9 June 2025 and 25 June 2025.

Corporate weekly highlights—26 June 2025

This week's edition of Corporate weekly highlights includes news of the government publishing a policy paper in support of its Modern Industrial Strategy, focussed on economic growth and industrial renewal. Key highlights are the government moving forward with implementing the introduction of ARGA to replace the FRC as the statutory regulator for audit and corporate governance, and a 12–week consultation on amending the National Security and Investment Act 2021 foreign direct investment regime (specifically, amending the list of sectors caught by the regime). There is otherwise a focus on corporate governance issues and continuing with reforms to the UK listing regime.

LSE to launch Private Securities Market later in 2025, pending FCA PISCES approval

The London Stock Exchange (LSE) has published market notice INO5/25, announcing plans to launch its new Private Securities Market later in 2025, pending PISCES regulatory approval from the Financial Conduct Authority (FCA). The market notice provides member firms with further details on proposed changes to the Rules of the London Stock Exchange (‘Rules’) and trading system to support the new market. These proposed rule changes will be subject to market consultation and will be formally communicated through a Stock Exchange notice in due course.

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