The fallout continues after the United Kingdom’s historic vote to leave the European Union. As the reality of it sets in, Paul Hodgson looks at what Brexit will mean for the U.K. financial markets, political landscape, and compliance needs.
Paul Hodgson
Posted inEurope
FRC announces investigations into KPMG and PwC
The U.K. Financial Reporting Council, an independent investigative body that monitors and enforces accounting standards, is looking into audits made of financial services companies in the days preceding the global financial crisis of 2008-2009, starting with a delve into the work of two key accountancy firms—KPMG and PwC. Paul Hodgson reports.
Posted inEthics & Culture
A roadmap toward executive-level gender diversity in the U.K.
The United Kingdom’s struggle for executive-level gender diversity continues, especially in the financial services sector, where only 23 percent of board directors and only 14 percent of executive committee members are female. The Women in Finance Charter offers a roadmap for how to address this, with a stern warning: Organizations can either address this proactively, or they can wait until regulations eventually force them to. Paul Hodgson reports.
Posted inEthics & Culture
100 largest companies’ human rights to be ranked
When it comes to taking a stand for various human rights—including health & safety, land rights, water & sanitation, and women’s rights—there are 100 companies that stand out for standing up and doing the right thing, according to the Corporate Human Rights Benchmark. Paul Hodgson has more.
Posted inBoards & Shareholders
New blood at the Serious Fraud Office
A report from Her Majesty’s Crown Prosecution Service Inspectorate has attacked the Serious Fraud Office for being a largely white, all-male board. Paul Hodgson examines the merits of the report and the SFO’s response.
Posted inEurope
Brexit: ‘Don’t leave me this way’
“Don’t leave me this way,” screams a headline from Dutch daily Algemeen Dagblad. The Netherlands fears Britain’s exit will be bad for its reputation. Paul Hodgson reports.
Posted inAccounting & Auditing
Financial reporting has room for improvement, says KPMG
A recent KPMG report underscores some pretty widespread deficiencies when it comes to business reporting. Whether companies are failing to note the impact of new products or how much injury time they have suffered, most can stand to improve the state of their annual reports. Paul Hodgson has more survey results.
Posted inRisk Management
Five-step guide to human rights due diligence
The U.K. Equality and Human Rights Commission has issued a five-step guide aimed at British boards and intended to help businesses “identify, mitigate, and report on the human rights impacts of their activities.” Paul Hodgson reports.
Posted inEthics & Culture
French nay on pay-cut
The controversy over Renault CEO Carlos Ghosn’s (pictured above) 2015 €7.2 million remuneration likely sparked revisions to France’s rules on compensation—including making say-on-pay mandatory and strengthening transparency rules. But so far, says Global Glimpses writer Paul Hodgson, Renault has no plans to change Ghosn’s compensation.
Posted inEurope
FCA advises on new EU Market Abuse Regulation
The Financial Conduct Authority has published changes to its handbook, “Disclosure Guidance and Transparency Rules,” to help U.K.-listed companies comply with new EU Market Abuse Regulation (MAR) from 3 July this year. The handbook and MAR cover a very wide range of “market abuse” issues, such as insider dealing, improper disclosure, manipulating transactions, and more. Paul Hodgson reports.
