FCA Archives

FCA calls for a pause on company reporting amid pandemic panic

As the UK entered COVID19 lockdown last week, Minerva wrote to regulators asking for their intervention to create an orderly market in AGMs. Today a letter has been sent to quoted companies asking them to clarify their AGM proposals, alerting them to the risk of bunching meetings in June. With AGM season about to get […]

FCA publishes proposals on climate change disclosure

The UK’s financial regulator has published its long-awaited proposals to tackle inadequate climate change disclosures by firms. The Financial Conduct Authority’s (FCA) proposals follow feedback from stakeholders to its October 2018 discussion paper on climate change and green finance. Its proposals include consulting on new rules to improve climate-related disclosures by certain firms and clarifying […]

FCA, FRC target “Effective” Stewardship

FRC and FCA target new, rigorous stewardship regime, SRDII implementation begins, ESG resourcing questioned In the latest round of consultations and discussion documents, the UK’s governance and financial markets regulators have laid out their “substantially higher expectations for investor stewardship policy and practice.” Having engaged with 170 members of the investment community, the FRC’s proposed Code […]

Rio Tinto fined in the UK and charged with fraud in the US

Anglo-Australian mining giant Rio Tinto has been fined £27m by the Financial Conduct Authority (FCA) for breaching UK disclosure rules while the US Securities & Exchange Commission has charged the company and former executives with fraud in relation to the acquisition of a coal mine in Mozambique in 2011. Rio Tinto is also being investigated […]

Financial Conduct Authority Senior Managers and Certification Regime

UK’s financial regulators extend governance regime

The Financial Conduct Authority (FCA) has published proposals to extend the senior managers and certification regime (SM&CR) across most regulated firms replacing the existing approved persons regime. This follows a government announcement in October 2015 that it wished to extend the SM&CR to all sectors of the financial services industry. The FCA said that the aim […]

FCA: Miss Piggy, you are cleared for take-off

Back in September 2011, the FT ran a story exploring the frustrations felt by investors over complexity and opacity in the voting chain (“Call for clarity in proxy voting process”, FTfm, 12th September 2011). In many ways the article was no different to much of the other hand-wringing that has characterised commentary on this subject. […]