The Quoted Companies Alliance (QCA) has published a new version of its Corporate Governance Code (QCA Code) on 13 November 2023. The revised QCA Code which will apply for financial years beginning on or after 1 April 2024 (with a grace period of 12 months). The QCA Code is followed by most AIM companies and…

January 24, 2024 Read more >

Bowing to pressure from the business lobby, on 16 October the UK Government announced it is shelving proposed legislation seen, hitherto, as a major plank in its plans for UK corporate governance reform. Apart from opening the door for critics to point to another government u-turn, this development is likely to affect, and may delay,…

October 18, 2023 Read more >

FRC consultation on proposed revisions to the UK Corporate Governance Code (‘the Code’) closed on 13 September. MM&K has taken the opportunity to submit responses to the 26 consultation questions. The last revision to the Code was in 2018. This latest consultation follows a raft of laws and regulations, much of it to do with…

September 14, 2023 Read more >

A non-compete clause is a clause in your employment contract that precludes you from joining a competitor or setting up a business that would compete with your employer’s (or ex-employer’s). However, no matter what is stated in your employment contract, a non-compete clause must be reasonable and only applies in cases when there is a…

July 27, 2023 Read more >

Recently, the Financial Reporting Council (“FRC”) published a consultation paper asking for detailed responses as to how the UK Corporate Governance Code (“the Code”) could be updated to become part of a wider framework of measures that will improve accountability, build trust and support investment and stewardship decisions in the UK. Although the main driver…

July 26, 2023 Read more >

Risk management is an important part of corporate governance because it helps organisations identify, assess and mitigate risks that can impact their ability to achieve their objectives and goals. It helps protect stakeholder interests, encourages better decision-making, preserve value and compliance and identify any emerging risks. When considering risk management in executive remuneration, boards should…

June 20, 2023 Read more >

You have probably heard of the term ‘shareholder activism’. This refers to actions taken by shareholders of a company to influence the management or direction of the company. Shareholder activism can take different forms and has advantages and disadvantages. We will look at some of these in this article. Shareholders may engage directly with the…

April 21, 2023 Read more >

Succession planning is a critical function of boards. It ensures that they have the right people in place to lead the company strategy and objectives into the future. It is an essential function of good corporate governance, ensuring that the boards have the right mix of skills, experience, and diversity to effectively direct the company…

March 17, 2023 Read more >

The Wates Corporate Governance Principles aimed at large private companies, provide a corporate governance framework and an opportunity for all private companies to develop their approach to corporate governance and best practice in the interests of the long-term success of the business. One of the six Wates principles is ‘Board composition’, which states that to…

February 24, 2023 Read more >

In November 2022, the Financial Reporting Council (“FRC”) published its annual review of Corporate Governance Code (“the Code”) disclosures.  As previously, it selected a range of 100 companies across the FTSE 350 and Small Cap markets. Whilst much of the findings will only be interesting to fully listed businesses, there are still some important points…

January 26, 2023 Read more >

Listed companies are required to put their directors’ remuneration policy to a shareholder resolution at least every three years. If a company wishes to make any changes to its remuneration policy, it must put the new policy to shareholders for approval at an annual general meeting (AGM). Several listed companies are likely to be seeking…

January 26, 2023 Read more >

Corporate governance can seem like a daunting task for any organization to undertake. Some organizations do it because they fall within specific codes, others consider doing it, but the thought and the process overwhelms them to a point of choosing to do the bare minimum, or nothing at all. It is important for companies to…

November 22, 2022 Read more >