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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 18, 2017
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On August 15, 2017 the Financial Reporting Council (FRC) published a consultation on draft amendments to its Guidance on the Strategic Report. The proposed amendments reflect changes to the strategic report requirements made by the Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016, which apply to companies and qualifying partnerships beginning on or after January 1, 2017.
The consultation encourages companies to provide better information on how they have fulfilled their duties to promote the long-term success of the company, as set out in section 172 of the Companies Act 2006 (CA 2006), to improve accountability to shareholders and other stakeholders.
The proposed amendments include (amongst other things) the following:
Next steps
The FRC has asked for all comments and feedback to be submitted by October 24, 2017.
On August 16, 2017 the Investment Association (IA) published a press release containing an analysis of voting data from the 2017 AGM season.
When compared to voting data from the 2016 AGM season, the IA notes that:
(IA, Shareholders flex their muscles in 2017 AGM season to reduce FTSE pay, 16.08.17)
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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.
Publication
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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