Government signals drive to boost ESG options for pension funds

Government signals drive to boost ESG options for pension funds UK government pensions minister Guy Opperman has signalled plans to accelerate ESG action for pension funds ahead of the milestone COP26 conference in 2021. “The government will be making announcements on climate change considerations on the whole investment chain and you can expect more and […]

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Virtual AGMs get FRC green light, but questions remain

Virtual AGMs get FRC green light, but questions remain Questions remain over how virtual AGMs can work for all investors, after a full season of shareholder and company meetings has been carried out online. While some “excellent practices” seen over the course of 2020 have convinced the UK regulator to encourage new, digital ways for […]

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FRC revamps UK Stewardship Code with new report obligation

FRC revamps UK Stewardship Code with new report obligation Prospective signatories of the UK Stewardship Code face a new reporting requirement and will soon have to prepare annual stewardship reports, following an update by the Financial Reporting Council (FRC). In a “substantial and ambitious” review, the 2012 code has been replaced by the UK Stewardship […]

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UK-listed companies offered Covid-19 issuance lifeline

UK-listed companies offered Covid-19 issuance lifeline UK-listed companies hit by Covid-19 are being given an additional lifeline as the Pre-Emption Group (PEG) extends the easing of its issuance guidelines, allowing more share capital to be raised from shareholders. The PEG, the affiliate of the Financial Reporting Council that provides guidance on fundraisings and rights issues, […]

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Lord Callanan, Minister for Climate Change and Corporate Responsibility

UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]

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FRC reports highlight benefits of Covid disclosures

FRC reports highlight benefits of Covid disclosures Investors require “clear and timely” disclosures from companies during the Covid-19 pandemic to inform decision-making and drive capital allocation. Two new reports from the Financial Reporting Council have attempted to break down what investors need from companies during the current period of uncertainty. The FRC has recommended that […]

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FRC: Expectations and standards ‘still apply’

FRC: Expectations and standards ‘still apply’ The Financial Reporting Council (FRC) has moved to remind companies that expectations and standards have not changed, despite the ongoing Covid-19 crisis. At the same time, however, the FRC clarified that it had not increased pressure on auditors to be tough. In an update, the Council said auditors should […]

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FRC reports highlight benefits of Covid disclosures

In February, the Financial Reporting Council (FRC) announced what it has called a “major review” of how companies and auditors assess and report on the impact of climate change, with the findings due to be published in the Autumn, ahead of COP26. But investors are set to play a key role in this review, according […]

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The UK Government has now implemented social distancing measures across the UK as the coronavirus outbreak continues to gather pace. Mass gatherings are being postponed or cancelled in response, but UK companies with scheduled annual general meetings (AGM) are having to consider whether they do the same or find another way to hold AGMs. The […]

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UK govt extends AGM leeway to end of 2020

UK reporting watchdog issues diversity warning The majority of the UK’s leading companies are failing to act on boardroom ethnic diversity, a major report by the Financial Reporting Council (FRC) reveals. The report, which reveals most of the FTSE 350 do not set measurable ethnicity targets, has fuelled concerns that companies will fail to meet […]

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