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As 2016 draws to a close, 2017 looks like it will be a year where the good governance of companies will be a hot topic. Following the Prime Minister’s speech at the CBI Annual Conference at the end of November, which focused on reforming corporate governance, BEIS has now published a Green Paper on corporate governance reform (see Green Paper for further details).
The Green Paper seeks views on a variety of potential changes to corporate governance structures in the UK, focussing primarily on:
Since becoming Prime Minister, Theresa May has made a series of speeches highlighting the “importance of building an economy that works for everyone, not just the privileged few” and of restoring the confidence of the public in the business community following the damaging behaviour of a small minority of large corporates.
However, the proposals set out in the Green Paper are perhaps not as radical as was originally suggested – earlier in the year the Prime Minister had indicated that there could be mandatory rules for employee and consumer representatives to have seats on large private company boards. It is now clear from the Green Paper that the 'voice' of these stakeholders can be achieved in other ways - and that whilst companies should have the right to appoint stakeholder representatives to the board on a voluntary basis, the government will not be proposing to mandate the direct appointment of employees or other interested parties to company boards.
The Green Paper contains a wide range of proposals on which the government is seeking views. It is also clear that the government is interested to hear suggestions on any other ideas or proposals that could be explored which may strengthen the UK’s corporate governance framework. The proposals are open for consultation until 17 February 2017 and we will issue a further update once the outcome of the consultation is known.
This MSB Club will focus on digital awareness as you grow your business, how to keep the hackers at bay; what do you need to know about new regulations that are coming into practice.
From 6 April 2017 changes are being introduced to the tax rules where individuals provide their services to a client in the public sector.
In July last year Jimmy Choo PLC, via its Registrar Equiniti, held the UK’s first electronic Annual General Meeting (AGM). In so doing, Jimmy Choo made its AGM accessible to all shareholders, regardless of their physical location.
From 6 April 2017, fund managers and investors will be able to make use a new vehicle, the private fund limited partnership.
If you employ 250 or more employees, what will the Equality Act 2010 Regulations 2017 mean for you on 6 April 2017?
The content on this page is provided for the purposes of general interest and information. It contains only brief summaries of aspects of the subject matter and does not provide comprehensive statements of the law. It does not constitute legal advice and does not provide a substitute for it.
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