Watchdog ‘lays groundwork for the creation of ARGA’ with planned consultation on audit committee ‘minimum standards’.
One of the reasons given by FTSE 350 chairs and CEOs for failing to appoint women on to boards is “we have one woman already on the board, so we are done…”
Business secretary Greg Clark has launched an independent review of the role of accounting watchdog Financial Reporting Council, over concerns that it “lacks teeth”.
Rules to strengthen the UK government’s powers to scrutinise takeovers, which could raise national security concerns in specific areas of the economy, have been updated.
The UK’s business department wants stronger investigative powers and punishments against directors post-insolvency, while setting a path for more active and responsible shareholder stewardship.
A failure to gain sponsor support for fundraising just days before last summer’s huge profit warning at Carillion didn’t deter its chairman supporting an “upbeat assessment” of the business.
The UK government is investigating share buybacks, but could capital allocation be a subject for more disclosure and the corporate governance code?
Ministerial concern at the potential sale of jet fighter components producer GKN to investment company Melrose will see the deal investigated—including whether the deal should be blocked.
Better reporting is needed to support “long-term” investment, says the UK government, but it is criticised for failing to mention human capital in its long-anticipated Industrial Strategy.
The absence of corporate governance reform details from the government’s legislative agenda has caused concern in the business community.