Autumn 2024
The Autumn 2024 edition of our UK Governance and Risk guide summarises developments of interest over the past summer and early autumn, including the emerging policy direction and initiatives of the new Labour government which are now starting to take shape.
As before, there is a focus on promoting economic growth and UK competitiveness, including through capital markets, infrastructure and clean energy, while also maintaining high standards of governance and corporate transparency. This may bring about a welcome reduction in business regulation and reporting burdens, as well as increasing efficiency through the greater use of automation and digital technologies.
At the same time, however, businesses must continue to address investor-driven requirements for climate and sustainability risks to be identified and monitored, as well as getting to grips with potentially far reaching government plans for enhanced worker protections.
Topics covered in this Autumn 2024 update include:
- emerging government policy and the new Labour programme for UK legislation and a 10-year industrial strategy,
- the reshaping of the approach to investor stewardship, as well as emerging proxy guidance for the 2025 listed company AGM season,
- the progress of audit reforms, the approach of the FRC to enforcement and the possibility of progress in the long-awaited transition from the FRC to a strengthened new regulator in the form of ARGA,
- expectations for corporate reporting, including in relation to material uncertainties and solvency and moves towards greater digital reporting,
- the status of emerging climate and sustainability reporting and assurance requirements in the UK, EU, US and globally, including in relation to transition plans,
- the new government’s intention to take firm action to tackle late payments to suppliers,
- anti-greenwashing risks in the UK and EU, especially for businesses in the consumer and financial sectors,
- other sustainability and ESG developments, including in relation to biodiversity and nature, anti-deforestation measures, “say on climate” votes by listed company shareholders, and the EU CSDDD’s new due diligence requirements,
- significant new proposals affecting employers and workers, as well as executive pay, and the diversity, equity and inclusion agenda,
- legal recognition and development of digital assets, as well as the increasing use of AI,
- the continuing roll out of UK corporate transparency measures and other actions to combat economic crime,
- changes to listed company ongoing obligations through equity markets reforms and market transparency proposals, and
- significant judgments on the duties of directors.
Governance and Risk Autumn 2024
MOBILE Governance and Risk Autumn 2024
For further information, please contact:
Alexandra Beidas, Partner, Linklaters
alexandra.beidas@linklaters.com
