Publication
Essential Corporate News – Week ending 1 November 2024
On 30 October 2024, the Chancellor of the Exchequer delivered the Autumn Budget 2024.
United Kingdom | Publication | March 2024
On 19 March 2024, the Department for Business & Trade (DBT) published a summary of the responses it has received to the Call for Evidence it launched in May 2023 as part of its review of the non-financial reporting requirements UK companies need to comply with to produce their annual report. As part of the review, the current company size thresholds (micro, small, medium and large) that determine certain non-financial reporting requirements, and the preparation and filing of accounts with Companies House, are also being considered to determine if they remain fit for purpose.
Main findings from the Call for Evidence
These are stated to be the following:
Next steps
With the summary of responses to the Call for Evidence, in a Ministerial Statement published on the same day, Kevin Hollinrake confirmed the following:
(DBT, Non-Financial Reporting Review, Call for Evidence – Summary of responses, 19.03.2024)
On 15 March 2024, FTSE Russell published a notice and document, including FAQs, in relation to the provisional changes to the FTSE UK Index ground rules as a result of the ongoing Financial Conduct Authority (FCA) review of the UK listing regime as set out in CP23/31 (see our briefing on CP23/31 here).
While noting that the FCA’s proposals are not final, so the FTSE Russell projections are also not final, FTSE Russell currently anticipates that the new Equity Shares (Commercial Companies) and the Closed Ended Investment Fund categories will become the eligible index universe for the FTSE UK Index Series, replacing the Premium Segment, shortly after the introduction of the new regime.
With Premium Segment listed companies expected to be automatically mapped to the new Equity Shares (Commercial Companies) and Closed Ended Investment Fund categories, and Standard Segment listed companies expected to be mapped to the Transition, International Secondary Listing, and Shell Companies’ categories, FTSE Russell notes that the immediate impact to the index composition is expected to be minimal on day one of the new regime. However, it also notes that after the introduction of the new regime, companies may decide to transfer to, or list on, the Equity Shares (Commercial Companies) category, which may result in them becoming eligible for the FTSE UK Index Series (at the following quarterly index review subject to satisfying all other inclusion criteria).
(FTSE Russell, FCA Primary Markets Effectiveness Review – Notice, 15.03.2024)
Publication
On 30 October 2024, the Chancellor of the Exchequer delivered the Autumn Budget 2024.
Publication
In a recent decision, the English High Court struck out what it described as a ‘hopeless and abusive’ claim that amounted to a de facto challenge to an award issued in a London-seated LMAA arbitration.
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