Regulation Archives

IoD calls for greater transparency on pay

The Institute of Directors (IoD) has called for tougher rules on executive pay, including greater transparency over the effect of share buy-backs, in its response to the Financial Reporting Council’s (FRC) consultation on the revised UK corporate governance code.

The …

US Federal Reserve takes strong action against Wells Fargo

The US central bank, the Federal Reserve, which regulates the country’s financial institutions, has restricted the growth of Wells Fargo following “recent and widespread consumer abuses and other compliance breakdowns”. The restriction on the bank is to continue “until …

Regulatory round up: Australia toughens up banking regulation

Australia has toughened up banking regulation after its upper house, the Senate, passed a law which gives its financial regulator, the Australian Prudential Regulatory Authority new powers, including the ability to cap bankers’ pay.

Under the Treasury Laws Amendment (Banking …

UK: Labour criticises choice of chair for private firm governance review

The Labour Party has criticised the UK government’s choice of chair for its coalition group that will be developing corporate governance principles for private companies. James Wates CBE, chairman of Wates, a family-owned construction firm, chaired the first meeting …

Carillion: MPs grill FRC chief executive over regulator’s role

UK MPs investigating the collapse of Carillion gave Steve Haddrill, Financial Reporting Council (FRC) chief executive, a grilling over the regulator’s role in recent years.

In his evidence to the joint inquiry by the House of Commons’ Work and Pensions …

Nigeria: More companies pass corporate governance rating test

Nigeria’s Corporate Governance Rating System (CGRS) has announced that 25 companies successfully passed its rating test joining the eight firms that retained their rating from the CGRS pilot in 2014. This brought the total number of companies that reached the

Malaysia: Progress on getting women on top company boards

Malaysia is close to achieving its target of getting women on the boards of all of its top 100 companies its Securities Commission (SC) has announced.

When the Malaysian code on corporate governance (MCCG) was published in April last year…

Code round-up: Singapore consults on revised governance code

Singapore’s corporate governance council, which was established by the Monetary Authority of Singapore in February 2017, is consulting on a revised corporate governance code for the country which it is hoped will strengthen investor confidence in its capital markets.…

Regulatory updates: Hong Kong to strengthen auditor oversight

Hong Kong’s Financial Reporting Council (FRC) has welcomed the governments plans to strengthen auditor oversight in Hong Kong.

The Financial Reporting Council (Amendment) Bill 2018, will be introduced into the Legislative Council of Hong Kong for its first reading …

UK’s Financial Reporting Council: stakeholders call for more transparency

The UK’s Financial Reporting Council (FRC) has published the findings of a survey of its stakeholders in which many call for more transparency in its internal processes and state that its current enforcement activities are too slow.

The FRC said …