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New rights for employees
A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
Global | Publication | February 26, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On February 12, 2016 the Government Equalities Office published for consultation a draft version of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2016 (the draft regulations). This follows on from its consultation “Closing the Gender Pay Gap” in July 2015. Employers with 250 or more relevant employees, being employees who ordinarily work in Great Britain and whose contract is governed by UK legislation, will fall within the scope of the new reporting regime.
The draft regulations provide:
The draft regulations, subject to the approval of Parliament, will come into force on October 1, 2016.
Responses to the consultation are requested by March 11, 2016.
On February 19, 2016 the Department for Business, Innovation & Skills (BIS) published its response to feedback received on its November 2015 consultation paper on the financial reporting requirements for limited liability partnerships (LLPs) and the creation of a new micro-entity regime for LLPs and for those general partnerships and limited partnerships that are Qualifying Partnerships as defined in the Partnerships (Accounts) Regulations 2008. These are partnerships where each of the members is a limited company, an unlimited company or a Scottish partnership, each of whose members is a limited company.
As a result of the responses received:
In January 2016 the Remuneration Consultants’ Group (the RCG) published a review of the effectiveness and implementation of its voluntary Code of Conduct (the Code), which sets out the role of executive remuneration consultants and describes the professional standards by which they advise their clients. The review covers the RCG and its activities in 2015, a review of the Code and its effectiveness, a summary of the main consultation survey for the review of the Code and a survey of consultants on the effectiveness of the Code.
The RCG concludes that overall the Code works well in its current form and very few changes were suggested. Respondents found the Code most helpful in providing reassurance that their adviser is a member of the RCG and is adhering to the guidelines provided in the Code. The majority of participants also agreed that the Code is helpful in establishing working relationships with their advisers. The key themes that came from interviews with participants were:
As a result of the review, the RCG has made some small drafting changes to highlight that consultants should make remuneration committees aware of any material changes to proposals as a result of interactions with management, to align wording where appropriate with the UK Corporate Governance Code, and to clarify the role of consultants in promoting good practice. These changes are implemented in the revised Voluntary Code of Conduct in Relation to Executive Remuneration Consulting in the United Kingdom, which is dated December 2015.
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A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
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On 24 April 2024, the European Parliament voted to adopt the long-awaited EU Corporate Sustainability Due Diligence Directive (CSDDD or the Directive).
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We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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