The Financial Stability Board (FSB) has published a peer review of the implementation of the G20/Organisation for Economic Co-operation and Development (OECD) principles of corporate governance for publicly listed, regulated financial institutions. The peer review found that all FSB member jurisdictions have a comprehensive corporate governance framework, but that the effectiveness of those frameworks could […]

The Government has tabled proposals for a governance code to bring large private companies in line with their stock market-listed counterparts. Following increased scrutiny of Britain’s boardrooms after a number of high-profile scandals, including the collapse of BHS, the green paper published today by the Department for Business, Energy and Industrial Strategy (BEIS) proposes to extend […]

The Swiss Financial Market Supervisory Authority (FINMA) has produced a circular (2017/1) containing a consolidation of the supervisory requirements relating to corporate governance, internal control systems and risk management for banks. The circular includes provisions to reflect revised international standards. In addition, FINMA has revised two further circulars (i) operational risks – banks (2008/21) and […]

Overseeing a company is no small task. Disruptive technologies are changing companies’ business models, geopolitical turmoil is impacting supply chains and investment opportunities, and increased regulatory complexity is affecting innovation. Institutional investors and shareholder activists are also playing a more powerful role shaping corporate governance. Boards of directors have to keep up with all of […]

The following update is relevant to – all those responsible for preparing annual reports, especially in corporates. On 11 October, the Financial Reporting Council (FRC) issued guidance to preparers of annual reports of around 1,200 large and smaller listed companies. The letter highlights key issues and improvements that can be made to annual reports in […]

The House of Commons Business, Innovation and Skills (BIS) Select Committee has launched an inquiry into corporate governance and directors’ remuneration. In particular, the inquiry will review directors’ duties, executive pay and the composition of boards, including worker representation and gender balance in executive positions. Specific issues the Committee intends to consider include: Directors’ duties […]

Press Releases Published: 28/09/2016 Last Updated: 28/09/2016 – The Financial Conduct Authority (FCA) will mark six months since the implementation of the Senior Managers’ and Certification Regime by providing feedback on implementation so far and proposing measures to further strengthen the regime. The proposed rules will reinforce the importance of individual accountability at the most […]

The corporate governance framework for listed companies in the UK is always evolving. Companies need to be aware of EU and UK legislative changes, Corporate Governance Code changes, revised guidance and views from institutional investor bodies and certain consultations and proposals. The Herbert Smith Freehills [HSF] Corporate Governance Advisory Team periodically produces a table which […]