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Mutual society NED banned (but will appeal) for failures to disclose conflict...
The FCA is attempting to ban Angela Burns (and fine her £154,800) from any regulated activity for failing to disclose a conflict of interest whilst acting as a NED at two mutual societies. Ms Burns is...
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Listed companies: revised International Standard on Auditing (ISA 700)
On 4 June 2013 the Financial Reporting Council issued a revised ISA 700, in its words “a significant change to the UK’s corporate governance regime…with the aim of better communication to investors”....
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Cyber security: ICSA guidance for UK boards
Issued 7 June 2013. Press release here; guidance here. More on cyber security and cyber crime here (BIS guidance for companies). From the press release: “UK boardrooms need to change their attitude if...
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BIS publishes “Corporate responsibility: call for views”; and global sources...
Call for views document here. Department of Business Innovation and Skills press release 27 June 2013 here. Excerpt: “A call for views on corporate responsibility has been published after Business...
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Employee ownership: company model documentation from BIS
The Department of Business Innovation and Skills published on 4 July 2013 a set of model documents for employee-owned companies. From the BIS webpage: “This model documentation was produced for the...
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ICSA updates Audit, Remuneration, Nomination, Risk Committee, Executive...
ICSA has published (July 2013) updated Terms of Reference for Audit, Remuneration, Nomination, Risk Committee, Executive committees and Matters reserved for the board, “to reflect changes to the UK...
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FRC advice on conducting effective audit tenders
The Financial Reporting Council published on 9 July 2013 “Audit tenders: notes on best practice“. From the press release: “The Financial Reporting Council has published practical suggestions to help...
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Diagnosing bribery risk: guidance for the conduct of effective bribery risk...
Published in July 2013 and here.
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ABI recommendations on corporate governance and shareholder engagement
Published on 25 July 2013. Document here. Recommendations regarding role of NEDs in M&A transactions, and the establishment of an “Investor Exchange” to facilitate collective engagement. Refers to...
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Business, Innovation and Skills Committee report on Kay Review
Here. Published on 25 July 2013. Poor quality, and bizarre suggestion that the Government look at a FTT.
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