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How to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read moreBalance on the board: Eight things UK PLCs need to know about the FCA's diversity targets
The Financial Conduct Authority's proposals will mean UK listed companies need to disclose whether their boards and senior management teams meet new gender and ethnic diversity targets.
Read moreTakeover Code: What has changed?
On 5 July 2021, the most significant changes to the Takeover Code (the Code) since 2011 took effect. The changes are intended to standardise the treatment of regulatory clearances and simplify the offer timetable. An overview of the main changes is set out below.
Read moreUK Listing Review wants companies to stay at home
Recommendations will make it easier to list and fundraise on the London Stock Exchange
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreLook to the future: Trainees take on 2019
The trainees didn't fare too badly with their 2018 predictions. They doubted England's ability to make it past the group stages of the World Cup, but foresaw how Brexit would dominate the news agenda. They over-optimistically predicted the introduction of automated bundling, but came very close on the value of Bitcoin. Read on to see this year's predictions.
Read moreBrexit - a legal analysis: IP rights
IP rights in the UK are all influenced and moulded to a greater or lesser degree by European law.
Read moreStamp duty land tax (SDLT) avoidance and corporate property deals – the importance of timing!
The First-Tier Tribunal has, in a recent decision, caused something of a stir for clients and advisors familiar with the well-trodden (and, usually, tax-efficient) use of offshore unit trusts to hold UK property.
Read moreModel Articles deemed unsuitable for sole director companies
A recent decision of the High Court in Hashmi v Lorimer-Wing [2022] EWHC 191 (Ch) has suggested that the model articles for private companies are not suitable for companies with a sole director appointed.
Read moreA licence to kill... a licence
In the second of a number of short articles we are producing in relation to businesses in the tech space, we will be discussing a real life example of what not to do when diligencing a tech company and its third party IP licence agreements.
Read moreNew regulations to permit assignment of receivables under commercial contracts now in force
After more than four years of consultation, draft regulations and revisions, the Business Contract Terms (Assignment of Receivables) Regulations 2018 (the Regulations) have now taken effect, and apply to all relevant contracts entered into on or after 31 December 2018.
Read moreHuawei and UK National Security - A new technology cold war?
Chinese technology giant, Huawei, has been making plenty of headlines recently. First, a number of Western governments (including the US, Australia and New Zealand) have banned Huawei equipment from being used in 5G networks, citing national security concerns. Next, Huawei's CFO was arrested in Canada in connection with alleged breaches of international sanctions.
Read moreFinal UK listing rules: modified transfer process for issuers in transition category
On 11 July 2024, the FCA published the final UK Listing Rules (UKLR) which came into effect on 29 July 2024 (Implementation Date). The UKLR are broadly in line with the FCA's previous proposals.
Read moreUK government updates NSIA market guidance and statement on call-in powers
Recent developments such as the removal of Huawei from the UK's 5G networks and President Biden's 2023 executive order on outbound investment in sensitive technologies have brought into focus potential national security risks arising from global trade and investment.
Read moreProposed removal of requirement for shareholder vote on significant transactions and related party transactions: FCA provides update on Listing Rule reforms
The FCA has provided an update on reforms to the Listing Rules proposed last year in its discussion paper DP22/2.
Read moreKey takeaways from the first year of the national security regime
The UK's new national security screening regime has now been in operation for over a year. This blog discusses the key takeaways from the first decisions to be made under the UK's new national security screening regime.
Read moreSpring Budget 2023 - Main Tax Announcements
This blog discusses some of the key tax changes announced in this week's Spring Budget.
Read moreWhen is a director personally liable for a company's wrongs?
A recent Court of Appeal judgment considers when a director might be liable for wrongs committed by the company (including, specifically, by way of accessory liability).
Read moreMeaning of contractual duty of good faith
The Court of Appeal has taken a restrictive interpretation of an express duty of good faith in a decision handed down on 21 October 2022 - Re Compound Photonics Group Ltd; Faulkner v. Vollin Holdings Ltd [2022] EWCA Civ 1371. This decision is important as (i) the Court of Appeal judgment provides a lengthy examination of the meaning of a contractual duty of good faith, and (ii) the decision casts doubt on some previous case law on this point (including overturing the High Court's decision).
Read moreRestrictive covenants in shareholders' agreements and commercial contracts
The Court of Appeal has recently reaffirmed the approach to the enforceability of restrictive covenants in shareholders' agreements and other commercial contracts.
Read moreCorporate governance for large private companies
For financial years beginning on or after 1 January 2019, large private companies will need to adhere to the requirements contained in a new corporate governance code published by the Financial Reporting Council. The introduction of the new code followed multiple scandals which revealed poor corporate practices and neglect of stakeholders' interests. As a result, the code seeks to rebuild confidence and trust in these large private companies.
Read more'Green Finance' enters the mainstream
With the UK's recent commitment to cut emissions to net zero by 2050, the financial sector is looking to 'green finance' to encourage investment in sustainable and environmentally-friendly businesses. Recent examples, like Nokia's €1.5 billion credit facility announced last week, show that environmental impact is becoming a key consideration for lenders and borrowers.
Read moreNational Security and Investment – the EU's response
National security concerns regarding Huawei continue to make headlines around the world, against the backdrop of an ongoing US / Chinese trade war. This blog looks at new EU rules on foreign investments which raise security or public order concerns.
Read moreMore than you bargained for: the implied duty of good faith
The recent High Court decision in Bates v. Post Office (No. 3) confirms a general principle that if a contract is a "relational" contract then it will include an implied obligation of good faith. Previously, there had been doubt whether such a general principle exists, as historically this was not an approach recognised by the English courts.
Read moreDerivative transactions – the obligation to report
As the recent £34.9m fine for Goldman Sachs shows, the FCA takes the obligation to report derivative transactions seriously. How does this affect parties who trade infrequently, and what changes to the reporting requirement can we expect post-Brexit?
Read morePart Three: Five practical implications of side letters and most favoured nations clauses for fund investors and managers
In this third and final part of our series on side letters and most favoured nation (MFN) clauses in private equity funds, we examine five practical implications for investors and managers.
Read morePart Two: Side letters and fundraising
In this second of a three part series, we look more closely at side letters and most favoured nation (MFN) clauses in the private equity space.
Read morePart One: Overview of side letters & MFNs when investing in private equity funds
In the first of a three part series we consider the importance of side letters and most favoured nations (MFN) clauses in private equity funds.
Read moreChanging retail landscape leads to decline in employee numbers
The retail sector continues to face change and challenge from every conceivable angle and employment within the sector is following this trend.
Read moreTechnology in Insurance
On 16 June 2022 RPC hosted an afternoon of talks and panel sessions on the theme of 'Technology in Insurance', the culmination of the firm's TechWeek which brings market experts and lawyers together to discuss risks and opportunities with new technologies within different business sectors.
Read moreFootball regulator heralds new era for The Beautiful Game
Last month, sports minister Nigel Huddleston formally confirmed the government’s support for the 10 strategic recommendations set out in the final report published last December by the independent fan-led review into governance, ownership and sustainability in English football.
Read moreSports Ticker (10 May 2021) - Para-sport basketball league, Premier League TV Rights and Olympic Virtual Series
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreSports Ticker (22 April 2021) - Super League, full stadiums and Coin for Respect
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreSports Ticker (12 Mar 2021) - Rugby World Cup, Fenway Sports Group and Dettol
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreSports Ticker (25 Feb 2021) - England Cricket partnership, New Balance and Fantasy Premier League
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreSports Ticker (12 February 2021) - Super Bowl LV, NBA investment and Ligue 1 broadcasting
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreThe risk of cyber threats to sports organisations (and key steps to reduce exposure)
Manchester United FC's recent cyber-attack came just weeks after an article we wrote for LawInSport on the topic.
Read moreSheffield United, or divided? Implying duties of good faith
The High Court has held that the duty to act with good faith should not be implied into an agreement between the owners of Sheffield United FC.
Read moreSporting compromise – tips for settling sports disputes
Some practical tips for sports clubs when settling disputes – with a focus on those issues that regularly arise in a sporting context.
Read moreLook what you made me do – avoid inducing a breach of a sporting contract
Read moreeFootball transfers: Juve and Man U snub FIFA to sign for PES
The RPC Sports group round-up football eSports deals: Juventus and Manchester United sign eSports partnerships with Pro Evolution Soccer, whilst Liverpool FC partners with FIFA.
Read moreSpurs suffer Champions League defeat to the Advertising Standards Authority
Spurs' heartbreak in Madrid was not the only loss they suffered on their Champions League journey this year. A tweet from Spurs announcing their line-up for their knock-out game against Borussia Dortmund featured the gambling operator William Hill, and was ruled to contravene the CAP Code.
Read moreReforms to the FA's Regulations on Working with Intermediaries
RPC summarise the key changes to the FA's Regulations on Working with Intermediaries (the "Regulations"), and offer practical tips to agencies, clubs and players to manage their impact.
Read moreSmoke and mirrors? Big Tobacco slip(stream)s back into Formula One sponsorship deals
RPC reports on Philip Morris and British American Tobacco securing major partnerships with Ferrari and McLaren, prompting investigations into their compliance with domestic and international advertising laws.
Read moreCMA clamps down on unfair gambling promotions
The CMA has spoken: online gambling operators must act now to avoid falling foul of misleading terms and practices. See below for our list of dos and don’ts.
Read moreSpurs 2 : 0 HMRC – termination payment not taxable earnings
The Upper Tribunal (UT) has confirmed the decision of the First-tier Tribunal (FTT) that payments made by Spurs in respect of two players on early termination of their contracts were not earnings. They were termination payments and, therefore, were outside the scope of national insurance contributions (NICs).
Read moreSwansea City player Bony keeps former agents in play
In a dispute with his agents over secret commissions, Swansea City striker Wilfried Bony has succeeded in opposing a stay in English Court proceedings, which would have been implemented had the Court found he had agreed to arbitrate. The decision is an important reminder that national courts will have jurisdiction to hear a claim if the parties have not agreed (expressly or impliedly) to resolve the dispute using arbitration.
Read moreEdgar Davids wins League of Legends image rights claim
Dutch football icon Edgar Davids has succeeded in suing Riot Games – makers of the world's biggest video game and eSports phenomenon, League of Legends.
Read moreBarton succeeds in reducing betting ban
Joey Barton has succeeded in reducing the ban imposed on him by the FA Commission following breaches of FA Rules concerning betting – but he's still banned until 1 June 2018
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