IoD Publishes Proposed Code of Conduct for Directors
The Institute of Directors has released a consultation document on a proposed Code of Conduct for Directors. The Code aims to serve as a practical tool to aid directors in making improved decisions. It also offers organisational leaders a behavioural framework designed to build and sustain public trust in their business operations. The document was […]
Consultation to Relax Non-Financial Reporting for Medium-Sized Companies
The Government is currently consulting on proposed changes to the UK’s non-financial reporting regime, which aim to reduce the burden on medium-sized companies. A company qualifies as “medium-sized” in a financial year if it meets at least two of the following three criteria: a. Annual turnover exceeding £10.2m but not more than £36m. b. Balance […]
Draft Legislation to Protect Residential Addresses on Companies House
The Government has released draft regulations aimed at enhancing the protection of individuals’ usual residential addresses (URA) from being publicly accessible at Companies House. Under the new regulations, individuals would be allowed to suppress their URA from public view if it has previously been used as a company’s registered office address, a provision not currently […]
Companies House Issues Draft Rules for Director ID Verification
Companies House has unveiled draft rules concerning the identity verification of directors, persons with significant control (PSCs), and others under forthcoming changes. The Economic Crime and Corporate Transparency Act 2023 amended the Companies Act 2006 and the Limited Partnerships Act 1907, introducing requirements for certain individuals to verify their identity. This applies to individual directors […]
March 2024: New Provisions In Force Under Economic Crime and Corporate Transparency Act 2023
In late October 2023, the Economic Crime and Transparency Act 2023 (ECCTA) was enacted, marking a significant reform in company law and the most substantial overhaul in the history of Companies House. The implementation of ECCTA’s measures will be phased and are contingent upon the enactment of secondary legislation. 1. New Provisions Effective From […]
Company Law Reform: Economic Crime and Corporate Transparency Act Now In Force
After passing through parliament, the Economic Crime and Corporate Transparency Act has now become law. The Act aims to enhance measures against economic crime and increase transparency of corporate entities. It follows the Economic Crime (Transparency and Enforcement) Act 2022, which enabled the government to impose sanctions more rapidly, established a register of overseas entities […]
Changes to Anti-Money Laundering Regulations Now in Effect
Changes to the Money Laundering Regulations came into force on 10th January 2020. The Money Laundering and Terrorist Finance Amendments Regulations 2019 (Regulations) update the UK’s anti-money laundering (AML) regime to incorporate international standards set by the Financial Action Task Force (FATF) and implement the EU’s 5th Money Laundering Directive (5MLD). UK businesses are being […]
Companies House Reforms Consultation Launched
The government has launched a consultation on wide-ranging reforms of the Companies House register, aimed at tackling misuse and ensuring accuracy. The proposals, set out in detail in an 80-page consultation document, are aimed at providing businesses and consumers with increased protections from fraud, misuse of information and criminal activity. The reforms also include specific […]
Drugs Companies Accused of Breaking Competition Laws at a Cost of £5m to NHS
The Competition and Markets Authority (CMA) has accused four pharmaceutical firms of colluding illegally between 2013 and 2018 to restrict the supply and drive up the price of an anti-nausea drug. In a statement of objections, the CMA alleges the cost of Prochlorperazine rose from £6.49 per pack to £51.68 after Alliance Pharma, Focus, Lexon […]