Elemental CoSec takes on a fresh face, advising Microskin Plc on its European admission
Elemental CoSec’s company secretarial and legal experts have advised Microskin Plc on its corporate structuring and initial admission to the GXG:First Quote stock exchange. Elemental CoSec’s director, Nick Lindsay commented “This was a fascinating deal for us and a great opportunity to work with a company doing some truly innovative work helping people with skin conditions. Bringing an Australian business …
What’s in a name?
The Government is considering simplifying the rules on what names a company can use when registering at Companies House. As part of the Red Tape Challenge, the Department for Business Innovation and Skills is consulting on the regulations relating to company and business names. The Proposals The consultation is asking whether all of the secondary legislation relating to names should …
Government announces changes to share buy backs for employees
On the 15 February 2013, the Government published its response to the consultation on Employee Ownership and Share Buy Backs following the Nuttall Review. In July 2012, Graeme Nuttall published a review into employee ownership of companies as evidence suggests that companies with employee owners are more resilient in downturns and tough economic times; a particularly important consideration given the last few …
Pension Funds call for rethink on Executive Remuneration
Major pension funds have published four key principles relating to executive remuneration which they would like to see adopted by FTSE companies. The most eye-catching principle is that they are calling for executive directors to own shares for at least ten years to encourage focus on genuine long term growth. They even suggest that executive directors should own shares through …
Role of Chair needs to be strengthened at the NHS
The role of Chairperson has a long and proud history in the UK as a bulwark of good governance. Although, there is some debate as to whether an effective board requires a separate chair (an area we have looked at previously; see Should the roles of Chairman and Chief Executive be split?), it is clear that, where there is a separate …
How can a Non-Executive Director protect themself?
As with many other parts of the World, the UK has seen an increased focus on the role of non-executive directors (NEDs) as part of a strong corporate governance regime. The main example of this is undoubtedly the emphasis that the UK Corporate Governance Code places on the role and importance of NEDs. However, this continued raising of the importance …
Stewardship consultation launched
The Institute of Chartered Secretaries and Administrators (ICSA), in conjunction with the Investor Stewardship Working Party, has launched a consultation on stewardship entitled ‘Improving Engagement Practices by Companies and Institutional Investors’. The ICSA has established a Steering Group, chaired by Sir John Egan, (former chair of Severn Trent plc), who have the aim of developing a good practice guide to …
EU to push for 40% female quota on boards
The EU is planing to force large listed companies to ensure that at least 40% of the non-executive directors are filled by women by 2020 in order to improve diversity and corporate governance across Europe. The Financial Times claims to have access to a draft proposal which they state should be formally introduced by Viviane Reding, the EU’s justice commissioner, …
Consultation on New Governance Standard
The BSI Group (British Standards Institution) currently have a new draft code of practice open for consultation relating to delivering effective governance (BS13500). This British Standard is intended to give recommendations and guidance for the effective delivery of governance. It is meant to be applicable to all organisations and is intended to promote a framework for effective governance that encompasses …
New Guidance Note on Induction of Directors
The role of directors has come under increasing scrutiny in recent years and especially the training and skills that directors need to perform their role. The induction process is critical in establishing the ability of a new director to actively perform their role and corporate governance responsibilities. It has long been accepted that for non-executive directors especially, the induction is …