Global: Guide to force majeure amid COVID-19
Global: COVID-19 pandemic is increasingly impacting business operations, including the ability of companies to meet their contractual obligations.
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On April 19, 2017 Companies House published its Business Plan 2017-2018 and announced changes to the UK’s anti-money laundering measures, including changes to the current ‘persons with significant control’ or PSC regime.
Points relevant to the PSC regime include the following:
On April 18, 2017 the Financial Conduct Authority (FCA) announced it had published a series of documents outlining its prospective plans. The FCA has published its Mission Document, its Business Plan and its Sector Views. The FCA aims to be more open and transparent in decision-making and these documents set out how it intends to achieve these goals.
The FCA Mission Document builds on the analysis set out the FCA’s October 2016 consultation “Our Future Mission”. The FCA will follow the Mission Document with more detailed explanations of how it delivers specific regulatory functions – Authorisations, Supervision, and Enforcement – as well as how it interprets its competition duties and considers the needs of consumers. The FCA Mission Document is accompanied by a feedback statement, which gives more detail on the responses to the 2016 consultation.
The Business Plan sets out the FCA’s priorities for the coming year which include supporting the UK Government during Brexit, supporting consumers in Payment Protection Insurance (PPI) claims, examining vulnerable consumers, continuing work on high-cost credit and evaluating the issue of long term savings and retirement funds.
This document provides the FCA’s view of how the financial markets are working as a whole and within component sectors and markets. In relation to equity and debt markets, the FCA notes again that improvements need to be made in certain areas, including the IPO share allocation process and availability of information during the IPO process.
On May 8, the Supreme Court of Canada released its written reasons in 9354-9186 Québec inc. v. Callidus Capital Corp.