In 2014, a $1 billion share buyback programme was initiated by Glencore plc, the biggest mining company in the world that has also strong interests in coal, copper and commodities. This move typified an ongoing trend of companies acquiring their own shares that has proved especially prevalent in the United States, with 2014 seeing a more than 50% rise in the use of company buybacks. Continue reading
Lord Davies sets 2020 target of one-third female FTSE 350 boards
Lord Davies’ final summary report on increasing the representation of women on the boards of FTSE companies will make interesting reading for many of those organisations conducting a corporate governance review or taking advantage of any of London Registrars’ other governance and compliance services.
Women on boards: 5 year summary was issued on 29th October 2015, with the Government fully supporting all of its recommendations – including a new target for the proportion of women on the boards of the UK’s 350 biggest companies (the FTSE 350) to reach 33% by 2020. This would amount to about 350 more women board members. Continue reading
Corporate Manslaughter and Corporate Homicide Act 2007
Introduction
The Corporate Manslaughter and Corporate Homicide Act 2007 (‘the Act’), which came into force in April 2008, was a landmark in law which for the first time allowed the authorities to prosecute organisations where a corporate management failing has led to the death of an individual, resulting from a breach of Health and Safety at Work. Continue reading
Requirements for when an auditor leaves office now simplified
Many of those that have changed auditors for their companies will not need to be reminded of the, obligations are outlined in the Companies Act 2006 on both an outgoing auditor and the company that it is ceasing to audit. These measures ensure that both company shareholders and the appropriate authorities are informed about the departure of the auditor and the reasons why. Continue reading
Latest version of charity regulator’s guidance document released
Trustees of charities many of whom are already using London Registrars’ risk and compliance services will be interested to hear that a new version of the Charity Commission’s guidance document geared to their needs, The essential trustee, has now been issued. Continue reading
New Brazilian Clean Company Act guidelines issued
Over twelve months after the enactment of the Brazilian Clean Company Act or BCCA, the guidelines explaining a number of its provisions have been released by the Brazilian government via a decree, news which will intrigue many of those using or contemplating risk and compliance services both here and abroad. Continue reading
Smaller quoted companies receive FRC help to improve quality of reporting
Many a smaller quoted company currently benefitting from the corporate governance services of London Registrars is likely to take an interest in the Financial Reporting Council (FRC)’s recent launch of a programme of measures intended to assist firms like theirs to compile better quality corporate reports.
The FRC has published a discussion paper, entitled Improving the Quality of Reporting by Reporting by Smaller Listed and AIM Quoted Companies, in which it outlined the results of a review of the standard of reporting for such companies. Feedback on the findings and conclusions was also requested.
Describing smaller quoted companies as “critical to generating future jobs and growth in the economy”, the FRC’s CEO, Stephen Haddrill, said that they nonetheless required “access to capital to invest and grow. We recognise that these businesses have limited resources and face challenges in reporting. Continue reading
Bearer shares abolished by SBEE Act 2015
Important news for many of those organisations using London Registrars’ business consulting service is the abolition, as of 26 May 2015, of bearer shares, which are shares that have been issued but have no registered owner. The change has been brought into law by the Small Business, Enterprise and Employment Act 2015 (SBEE)’s implementing of amendments to the Companies Act 2006. Continue reading
Nearly a quarter of FTSE 100 board positions now filled by women
A development of great relevance to corporate governance in the UK over the last four years has been the increasing prominence of female faces in top companies’ boardrooms. Lord Davies of Abersoch’s annual report publishing the current state of gender diversity on FTSE boards, reveals that women now occupy almost a quarter of FTSE 100 board positions. Continue reading
169 companies fined by regulator due to pensions compliance failures
The Pensions Regulator has released figures confirming that a total of 169 employers have now been fined for failing to comply with their workplace pensions obligations. while this should alert the clients of London Registrars’ business support services to the importance of tending to their own duties in this area, tens of thousands of businesses have nonetheless now complied with their automatic enrolment duties. Continue reading