The London Stock Exchange (“Exchange”) has published AIM Notice 46 in which it announced the launch of a discussion paper on proposed changes to the AIM Rules for Companies and the AIM Rules for Nominated Advisers.
Many of the proposals concern
Down the Wire
The latest news on law and regulation in the capital markets
Down the Wire, published by Squire Patton Boggs, covers legal developments and insights primarily related to corporate governance, mergers and acquisitions, shareholder rights, and regulatory compliance. The blog addresses topics such as corporate sustainability disclosures, appraisal disputes in corporate reorganizations, proxy voting guidelines, and cross-border corporate transformations. It also discusses evolving standards in public policy, financial regulation, and governance codes affecting companies and investors. The content reflects the firm's expertise in corporate law, finance, dispute resolution, and regulatory frameworks, providing updates on legal reforms and practical implications for businesses and stakeholders.
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Takeover Code Consultation
By Andrew Glaze
The Code Committee of the Takeover Panel has published PCP2017/1 consulting on a number of proposed amendments to the Takeover Code in relation to asset sales in competition with an offer and other matters.
The background to one of the consultation issues is…
Changes to the PSC Regime: AIM Companies Take Note
In our Down the Wire post of 22 May, we warned that the Fourth Money Laundering Directive (which the UK had to implement by 26 June 2017) could bring AIM companies within the scope of the “PSC regime”, so as to require…
Changes to the Persons with Significant Control Regime
The Fourth Money Laundering Directive ((EU) 2015/849) (“MLD4”) must be transposed into national law by 26 June 2017. MLD4 requires (amongst other things) corporate and other legal entities to disclose their beneficial owners. In many respects this is currently being…
New Long-Term Reporting Guidance
The Investment Association (“IA”) has published new guidance on long-term reporting which it is encouraging companies to adopt as soon as possible. This follows on from the IA’s call some 6 months ago to cease quarterly reporting in favour of more…
PIRC Shareowner Voting Guidelines 2017
PIRC has published the 2017 edition of its UK Shareowner Voting Guidelines, replacing last year’s version. Additions to the guidelines include the following:
- PIRC will oppose the re-election of an executive chairman except in exceptional circumstances.
- PIRC supports the Hampton-Alexander Review and the Davies
…
Corporate Governance Changes Ahead?
By Andrew Glaze
If the Business, Energy and Industrial Strategy Committee’s recent report on its inquiry into corporate governance is anything to go by, we may be seeing significant changes ahead. Whilst the report does not believe that a fundamental overhaul of the current framework is…
Race in the Workplace
Last month Baroness McGregor-Smith published her review on race in the workplace, focusing on the issues affecting black and minority ethnic (BME) groups in the workplace. In all, the review made some 26 recommendations and estimated that the UK economy could benefit…
Reporting on Payment Practices and Performance
The government has published the Reporting on Payment Practices and Performance Regulations 2017. The regulations come into force on 6 April 2017 and, subject to certain exceptions, the duty to report will apply in relation to financial years beginning…
Can More Information Boost the Flagging UK IPO Market?
The Financial Conduct Authority has published a consultation paper on reforming the availability of information in the UK equity IPO process.
In the FCA’s view, for too long information on companies about to float has been restricted to corporate finance…