Regulation Archives

Tesco held to account for breaching Grocery Code

Tesco has been told to introduce significant changes to practices and systems after the Groceries Code Adjudicator, Christine Tacon, found the supermarket giant had seriously breached a legally-binding Groceries Supply Code of Practice (the Code) to protect groceries suppliers.

Tacon’s …

31 countries agree to share tax data as Google comes under fire for its deal in the UK

An agreement has been reached between 31 countries for the automatic exchange of information on the taxes paid by, and the economic activity of, multinational businesses. This increase in transparency between countries should help tax authorities understand if multinationals are …

FRC reviews KPMG’s audit of HBOS

The UK’s accounting regulator, the Financial Reporting Council (FRC), is to consider whether the accountancy firm, KPMG, or any individuals require further investigation following a review of the report, published last November by the Prudential Regulatory Authority and the

FSB’s Climate Disclosures Task Force members revealed

The Financial Stability Board (FSB) has announced the members of an industry-led Task Force on Climate-related Financial Disclosures (TCFD), which will be chaired by Michael Bloomberg. The Task Force was announced last month, as reported by Manifest.

The Task Force …

Next forced to call shareholder meeting following technical breach of Companies Act

The board of retailer Next has been forced to call a general shareholder meeting next month after finding a technical infringement of the Companies Act 2006 in respect of the payment of the dividends.

The issue relates to the dividends …

Bank of England proposes tougher bonus rules

The Bank of England is proposing to strengthen the remuneration requirements on buy-outs of variable remuneration for those regarded as material risk takers at banks, building societies and designated investment firms regulated by the Prudential Regulatory Authority. These proposals are, …

UK corporate governance standards high but FRC wants better stewardship reporting

Compliance with the UK Corporate Governance Code remains high,with 90 per cent of the FTSE 350 complying with all but one or two provisions, according to the Financial Reporting Council (FRC) in its report, Developments in Corporate Governance and Stewardship …

France adopts SRI product standards

In a move to assist investors, the French government has adopted clear standards for products that fund managers regard as socially responsible investments. These investments products will need to be certified by accredited certification bodies to be sold under the …

Singapore Exchange consultations: Listings rule changes & sustainability reporting

The Singapore Exchange (SGX) is undertaking a consultation on amendments to its Listing Rules to align them with the amended Companies Act passed in October 2014.

The Listing Rule changes will be able to send companies to send company notices …

Best Practice Principles improve transparency ESMA says

The Best Practice Principles for Shareholder Voting Research have improved transparency, so issuers and investors can better understand the work of proxy information providers and advisers, according to the EU’s European Securities and Markets Authority (ESMA).

However, the ESMA believes …