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Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Global | Publication | August 19, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On August 15, 2016 the GC100 and Investor Group (the Group) published a second edition of its directors' remuneration reporting guidance (the Guidance), which was initially published in September 2013. The second edition reflects changes resulting from a review by the Group of experience over the 2014 to 2016 AGM seasons, and feedback from companies, investors, advisers, other market participants and government. It will be reviewed on a regular basis to ensure it remains relevant and useful.
The Guidance notes that there has generally been an improvement in the quality of remuneration reporting since the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (as amended) (the Regulations) were introduced, but the Group believes that companies should continue to focus on clarity and conciseness. It states that remuneration committees may find it helpful to consider:
The revised Guidance notes the following:
(GC100 and Investor Group, Directors' Remuneration Reporting Guidance 2016, 15.08.16)
On August 15, 2016 the City of London Law Society (CLLS) and Law Society Company Law Committees’ Joint Working Parties on Market Abuse, Share Plans and Takeovers Code issued a second Q&A on the Market Abuse Regulation (MAR). This Q&A follows an earlier Q&A on aspects of MAR issued in July 2016.
The Q&A sets out a suggested approach to implementing certain aspects of MAR, and provides answers to questions including the following:
Market soundings (Article 11)
Stake-building on a takeover
Person discharging managerial responsibilities (PDMR) dealings (Article 19)
The Joint Working Parties note that the Q&A is an explanation of how, in their view, MAR should apply to certain practical situations, but is subject to review and amendment in the light of practice on the implementation of MAR and any relevant future UK or EU guidance published in relation to MAR.
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European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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Head of Legal Operations, Stephanie Hamon, will be joining the panel discussion on "Simplifying Legal Tech Adoption and Implementation" at the Legal Tech Talk conference on June 13th (3:30 - 4:15 PM).
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