From 28 September 2018, all AIM companies are required to adopt a recognised corporate governance code such as the UK Corporate Governance Code or the QCA Corporate Governance Code and comply with that corporate governance code on a 'comply or explain' basis.
From 28 September 2018, all AIM companies are required to adopt a recognised corporate governance code such as the UK Corporate Governance Code or the QCA Corporate Governance Code and comply with that corporate governance code on a 'comply or explain' basis. Previously, AIM companies had the freedom to choose which code, if any, applies, or set out their own arrangements.
AIM companies should state on their website:
This information should be reviewed yearly and the date it was last reviewed should be also be set out on an AIM listed companies website.
Over the coming months many government departments will be busy making provision for the UK’s exit from the EU – and, whilst Brexit developments grab the majority of the headlines, separately there is a huge amount of work going on to implement changes to the UK’s corporate governance regime, including capturing AIM listed companies within some of the new arrangements. We only need to recall the media coverage of recent high profile corporate failures, such as Carillion and BHS, to understand why the topic of good governance is high on the political agenda.
The reforms are being introduced through a combination of new statutory reporting requirements and changes to the UK Corporate Governance Code (Code), AIM Rules and QCA.
The FRC has published a revised 2018 Code which will apply to accounting periods beginning on or after 1 January 2019. If the 2018 Code is the recognised code an AIM company has chosen to follow, the revised Code is much shorter, sharper and has fewer provisions than the previous version.
The 2018 Code contains important themes on promoting diversity of gender, social and ethnic backgrounds, and enhancing transparency and diversity in a company’s succession pipeline. New provisions include:
- a director appointed from the workforce,
- a formal workforce advisory panel,
- a designated non-executive director.
According to QCA research, over half of the 900+ AIM companies have historically chosen adopt the QCA Corporate Governance Code (the QCA Code). A new version of the QCA Code was published on 25 April this year. This caters for small and medium-size firms.
The latest version of the QCA Code addresses the concerns from the Government’s Green Paper consultation on corporate governance reform. New provisions include:
Given the increased focus of government, stakeholders and society as a whole on the importance of good corporate governance and the need for greater transparency and accountability, AIM companies should be reviewing their existing governance arrangements and preparing to make a comply or exchange statement in respect of their chosen recognised code.
A deepfake of Bruce Willis is advertising Russian mobile phones. Many great artistic and metaphysical questions are raised by this performance. However, this article is going to look at the intellectual property law implications, from a UK perspective.
The Digital Services Act (the “DSA”) has today (27 October) been given the go-ahead by the EU Council and will enter into force by early 2024.
It is clear that the digital landscape, often termed cyberspace, is a man-made environment, in which human behaviour dominates and where technology both influences and aids our role in it — through the internet, telecoms and networked computer systems, which are often interdependent. The extent to which any organisation is potentially vulnerable to cyber-attack depends on how well these elements are aligned.
Since the UK left the EU and are now able to move away from the EU data protection regime, the UK government have implemented a national data strategy with the aim of reducing the burden on organisations but maintaining a high data protection standard.
In this article we look at local authority companies and whether they are subject to the Freedom of Information Act 2000. And for those that are, what information are they legally obliged to submit.
The Digital Markets Act (the “DMA”) joins the dots between competition law and data protection law and actively targets data-driven platforms. It is also a comprehensive regulation to take note of, with familiar GDPR-style fines tied to turnover.
The use of social media platforms and applications can have overwhelmingly positive benefits for public bodies. However, regulatory action recently taken by the Information Commissioner, has highlighted various pitfalls that public bodies should seek to avoid if allowing staff to use social media as a communication tool.
The data protection legislation (namely, the UK GDPR and Data Protection Act 2018) contain various provisions that deal with the processing of personal data for research purposes.
Public bodies will be pleased to hear that another significant court decision (Ali v Luton Borough Council  EWHC 132 (QB)) has been made that is favourable to data controllers.
This article has five excellent top tips for strong data compliance in 2022, including; embracing near misses, leading from the top, outcomes-focused training, learning walks, consequences.
The cases summarised give considerable comfort to data controllers seeking to defend themselves against claims that relate to breaches arising as a result of a failure rather than a direct act and/or are based on assertions of damage or distress that are exaggerated, unsubstantiated or bear little relation to the breach itself.
The Supreme Court has unanimously overturned the Court of Appeal’s 2019 decision in the case Lloyd (Respondent) v Google LLC (Appellant) which allowed the claimant, Mr Lloyd, to serve a representative action on Google on behalf of over four million iPhone users who were seeking damages for ‘loss of control’ of personal data.
Cookies and similar technologies are a useful and often necessary tool for online businesses, but their use is governed by both the Privacy and Electronic Communications Regulations (PECR) and the GDPR.
Student and staff files will be full of personal data, much of which may be particularly sensitive such as health information (known under the data protection legislation as “special category” data).
In February 2021, the High Court handed down judgment London Borough of Lambeth v AM (No. 2)  EWHC 186 (QB), in which Browne Jacobson LLP acted for the Claimant Council. The judgment is critical reading for public bodies who are required to take action to restrict the use of confidential information in circumstances where that information has been inadvertently disclosed to a third-party.
The Supreme Court’s pending decision could potentially open the floodgates for data privacy litigation going forward.
Watch our on-demand video for our popular Claims Club where we discussed the risk of data sharing, risks in a changing climate, highway claims and what we can see on the horizon.
This judgment is critical reading for public bodies who need to take action to restrain the use of confidential information in circumstances where that information has been inadvertently disclosed to a third party.
UK organisations need to comply with the UK GDPR and continue to be subject to the EU GDPR where EU data is being processed, so there may be two versions of the GDPR to comply with for some personal data processing.
The adoption of smart technology solutions by the health and care sector has exploded in 2020. The pandemic has driven the sector to increase its use of smart phone technology solutions (“Apps”), an example of which is conducting video consultations and assessments.
Despite the lack of clarity around Brexit, there are key data issues that can be addressed now. We can help you with the steps you need to take to mitigate the risks.
In May 2019 the Government consulted on a range of options to enhance the role of Companies House and increase the transparency of companies and other legal entities. On 18 September 2020 BEIS published the Government's response following a huge response to the consultation.
If you publish website content then you need to be careful before embedding third party images. The rights of a copyright owner are infringed if their work is communicated to the public without their permission.
On demand webinar, focusing on practical solutions to utilise from home in agreements and dealings with business, data and digital law and how covid-19 has changed legal privilege.
The GDPR requires all businesses to implement ‘Data Protection by Design & Default’ but what does that mean in practice and how can businesses practically comply?
Data protection law requires every business that deals with personal data to ensure that they have “Technical and Organisational Measures ” in place to keep that data secure. Losing that data could seriously damage the company’s reputation and potentially land it with a fine from the ICO and with claims for compensation.
The ICO has recently released updated guidance for businesses who are grappling with concerns around data protection compliance during the ongoing Covid-19 (Coronavirus) pandemic
During this short webinar our experts will deconstruct the most typically occurring contractual disputes.
Did you know that cyber attackers can use publicly available information about your business and employees to make their attacks more successful? Information is often gleaned from websites and public social media accounts.
If you provide goods or services online that might be of interest to children then you’re going to want to go through the ICO’s “Age Appropriate Design Code of Practice” - a code requiring minimum standards of any online service aimed (or which is likely to interest) children.
The Freedom of Information Act 2000 (‘FOIA’) allows members of the public to request information from public bodies. As guidance issued by the Information Commissioner explains, the main principle behind FOIA is that people have a right to know about the activities of public authorities, unless there is a good reason for them not to.
As part of our regular updates for in-house lawyers, Richard takes a look at what has changed in data protection law over the last six months
Browne Jacobson’s Manchester office has seen the value of deals which its corporate, banking and real estate teams have advised on exceed an aggregate of £500m in the first half of its financial year, a major milestone for the firm which has grown its transactions offering considerably over the same period.
Our expert panel, comprised of IP and corporate law specialists, will be discussing IP commercialisation strategies, their benefits and pitfalls, drawing on experience across the private, public and higher education sectors.
Although there is uncertainty about what arrangements will apply when the UK leaves the EU, there are a number of practical steps that can be taken now to prepare from a data protection perspective and to ensure that any data flows to and from the EU can continue post Brexit.
Following a dispute over a right of way, the parties’ solicitors agreed in an exchange of emails (constituting a single email chain) to compromise the dispute by the defendant (R) transferring to the claimants (N) a small piece of land adjacent to Lake Windermere.
This month is a Brexit special including general elections, public procurement, data protection and contract drafting.
The political situation in Westminster continues to evolve and it is unclear what will happen on October 31st – in particular whether we will remain, leave, or whether there will be a transitional arrangement to bridge the gap?
As Brexit Day inches closer there are many things for local authorities to consider. One of which is whether contracts already in place or currently being negotiated will still be accurate or support council business after Brexit.