Regulation Archives

UK’s FRC asks for more governance powers

The UK’s Financial Reporting Council (FRC) has argued that it needs more powers to take enforcement action against directors so that it can investigate and prosecute all directors for financial reporting breaches and associated issues of integrity, rather than only …

UK’s FRC targets thematic reviews to improve reporting and audit

The UK’s Financial Reporting Council (FRC) has announced that in 2017 it will carry out a number of targeted thematic reviews of company reporting and audit on issues it knows to be of shareholder interest and where weaknesses have been …

Law changes needed for better governance says FRC

The Financial Reporting Council has recommended a series of changes that are needed to improve the UK’s governance regime. In a letter to the Business, Energy and Industrial Strategy (BEIS) select committee the FRC has said that Section 172 of …

Canada launches major governance overhaul

Canada has introduced a bill aimed at improving its corporate governance framework. An Act to amend the Canada Business Corporations Act (CBCA), the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act includes proposals to increase shareholder …

Indian PE side agreements draw ire from SEBI

Following revelations that shareholders in Indian companies were being disadvantaged by private equity promoters SEBI, India’s Securities and Exchange Board is looking to cut down on unfair practices.

In a consultation to change to its Listing Rules SEBI said …

US Council of Institutional Investors speaks out against regressive “Choice” Act

The US Council of Institutional of Investors (CII) has written to the House of Representatives’ Financial Services Committee objecting to a number of proposals in its Financial CHOICE Act – which has now been approved by committee.

This proposed law …

UK rolls out gender pay gap reporting regulations

The UK government will have the power to make, through regulations, the framework for gender pay gap reporting by companies with 250 or more employees when Section 78 of the Equality Act 2010 comes into force on 22nd August.

Section …

Companies and investors need to act on executive pay, PwC believes

While regulation on directors’ pay can be counter-productive the business community needs to address the concerns of politicians and the wider public about pay inequality in the UK, advisors PricewaterhouseCoopers (PwC) have warned in a report. This is a …

HBOS & BHS audit investigations launched

The UK’s Financial Reporting Council (FRC) has launched two separate audit investigations,one into KPMG’s audit of HBOS in 2007 and secondly PricewaterhouseCoopers audit of BHS in 2014 – under its accountancy scheme which it allows it to take disciplinary action …

Global investors condemn US attempt to undermine voting decisions

Moves to regulate proxy research would undermine relationships with shareholders, compromise research integrity and eliminate competition say global investors.

Proposed regulation contradicts moves to improve objectivity in sell-side space.

The US House of Representatives’ Finance Services Committee last week …