Publication
Generative AI
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Global | Publication | November 10, 2017
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On November 9, 2017 the Hampton-Alexander Review published a “one year on” report, summarising how women’s representation is progressing on FTSE 350 boards and in the “executive pipeline”, the executive committee and those who report to members of the executive committee. This follows the targets set in November 2016 by the Hampton-Alexander Review which included a target of 33 per cent women on FTSE 350 boards and 33 per cent women in FTSE 100 leadership teams by 2020. The target of 33 per cent women in leadership teams also now applies to FTSE 250 companies.
The report includes the following:
Executive committee and direct reports
Women on boards
Other information
(Hampton-Alexander Review: FTSE Women Leaders, November 2017)
On November 9, 2017 the Financial Reporting Council (FRC) published three thematic reports to help companies improve the quality of their corporate reporting in acknowledged areas of difficulty, namely judgements and estimates, pension disclosures and alternative performance measures.
The Corporate Reporting Review (CRR) is responsible for the FRC’s thematic reviews. The CRR monitors company reports and accounts for compliance with the Companies Act 2006, including applicable accounting standards and other reporting requirements. In December 2016, the FRC approached 60 companies and informed them that the CRR would review one of the three themes in their next annual report and accounts.
Thematic review – Judgements and estimates
The report sets out the CRR’s principal findings on judgements in corporate reporting and the most commonly disclosed estimates. Overall the CRR found that:
Section 4 of the report sets out the review’s principal findings in more detail and includes examples of better disclosures that illustrate how companies could address these findings. Section 5 sets out the areas where the CRR will challenge companies, including where they do not:
Thematic review – Pension disclosures
A second report by the CRR on pension disclosures welcomes the new or extended commentaries in strategic reports focusing on how any pension deficit would be addressed and notes that:
Thematic review – Alternative Performance Measures
The CRR found that Alternative Performance Measures (APMs) were used by all the companies they reviewed. Compliance with ESMA’s Guidelines on Alternative Performance Measures was generally good and had improved from previous year’s annual reports. The CRR notes in its report:
The CRR was concerned with some of the language used in reports and recommends that companies remove descriptions, such as “non-recurring” from their definitions of APMs and select more accurate labels. A number of examples are given in sections 4 and 5 of the report.
(FRC, Corporate reporting thematic review: Judgements and estimates, 09.11.17)
(FRC, Corporate reporting thematic review: Pension disclosures, 09.11.17)
(FRC, Corporate reporting thematic review: Alternative Performance Measures, 09.11.17)
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
In April 2024, the UK Government published details of its sustainable aviation fuel mandate (the UK SAF Mandate) and launched a consultation on proposals for a revenue certainty mechanism to support UK sustainable aviation fuel (SAF) production.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023