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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-01-23T12:56:00
The Financial Reporting Council (FRC) held back on the latest round of updates to the U.K.’s corporate governance code, as the country remains wary of pushing away businesses and investors.
Revisions to the code, announced Monday, focused on improving its section on internal controls, instead of tackling previously proposed subjects including environmental, social, and governance; diversity and inclusion; and expectations on audit committee chairs’ engagement with shareholders. The FRC said this determination was “aimed at promoting smarter regulation” and that it focused on what was necessary.
“The FRC is conscious that the expectations for effective governance must be targeted and proportionate,” the regulator said. “This approach ensures the FRC balances underpinning trust and confidence in U.K. plc for investors and others whilst keeping burdens on businesses to the minimum necessary.
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2024-02-13T22:12:00Z By Ruth Prickett
Corporate culture, internal controls, and assurance moved up the boardroom agenda with the publication of the U.K.’s revised corporate governance code and its supporting guidance.
2024-01-30T15:54:00Z By Ruth Prickett
Cybercrime is regularly cited as a leading concern for executives, yet board oversight of cyber risks is often inadequate and governance poorly understood, according to the authors of a proposed U.K. code of practice on cybersecurity governance.
2024-01-26T12:37:00Z By Neil Hodge
The recent furor in the United Kingdom over the Post Office’s wrongful prosecutions of sub-postmasters for alleged fraud has put the government’s relationship with private contractors under the spotlight and raised questions about how companies could be held more accountable in future.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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