Publication
Essential Corporate News - Week ending 18 October 2024
On 14 October 2024, the Department for Business and Trade (DBT) published the Report of an independent expert Panel on how best to establish a UK corporate re-domiciliation regime.
Global | Publication | March 10, 2017
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On March 3, 2017 the Financial Conduct Authority (FCA) published its sixteenth quarterly consultation paper. Among other things, the consultation paper proposes some minor changes to the Prospectus Rules in order to comply with the EU Prospectus Regulation, which will enter into force later this year, possibly in May or June, and which will replace the EU Prospectus Directive.
Proposed changes include the following:
The FCA has requested comments on other aspects of the consultation paper by May 3, 2017, but since the FCA anticipates that the Prospectus Regulation could come into force in May or June 2017, it is requesting comments on the proposed changes to the Prospectus Rules by April 3, 2017.
On February 28, 2017 the Department for Business, Energy and Industrial Strategy (BEIS) published an independent review by Baroness McGregor-Smith considering the issues affecting black and minority ethnic (BME) groups in the workplace. This follows terms of reference published in April 2016 which stated that the review would look at the business and economic case for employers to harness potential from the widest pool of talent in the workforce. It was tasked with identifying the obstacles faced by BME groups in progressing through the labour market, assessing the impact of those obstacles, highlighting best practice and making cost-effective recommendations. The Government response to the review was published alongside the review.
The review sets out a number of changes that can be made by employers in the public, private sector and voluntary and community organisations to improve diversity within their organisations, including:
The review includes a list of 26 recommendations, many of them directed at listed companies and all businesses and public bodies with more than 50 employees. The review also includes a number of best practice case studies.
The Government’s response includes the following:
(BEIS, Race in the workplace: The McGregor-Smith review, 28.02.17)
On March 8, 2017 UK Government Investments announced that in November 2016 the Government launched the Future Board Scheme, in partnership with 30% Club and Board Apprentice. The scheme gives women from a wide range of backgrounds the opportunity to spend 12 months with boards in a developmental capacity.
The scheme is aimed at FTSE 350 companies, small and medium-sized enterprises, and other major organisations. Each organisation involved hosts a participant on their own board and in return puts forward an employee of their own to be placed on another participating board. Companies such as Aviva and Hammerson have signed up to participate in the scheme.
The Government believes the scheme has the potential to significantly grow the talent pipeline of women executives by giving women 12 months’ experience on a major board.
(UK Government Investments, Women in senior leadership: launch of the Future Board Scheme, 08.03.17)
Publication
On 14 October 2024, the Department for Business and Trade (DBT) published the Report of an independent expert Panel on how best to establish a UK corporate re-domiciliation regime.
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