Consultations

Insight / IESBA ethics code updated to clarify inducement rules

The International Ethics Standards Board for Accountants (IESBA) is consulting on proposals to strengthen the provisions in the code of ethics for professional accountants regarding the accepting and offering of inducements

Insight / Corporate governance code to cover pay ratios and employees’ voices

The government has set out a package of corporate governance reforms which will see listed companies required to publish pay ratios between chief executives and their average UK workers for the first time as part of plans to enhance boardroom accountability through wider reporting

Insight / Government to clamp down on pension scams

A ban on cold calling in relation to pensions, including texts and emails, along with tougher actions to prevent fraudulent pension schemes have been introduced by the government, as part of a crackdown on scammers who are targeting pension funds

Insight / Treasury seeks to promote ‘patient’ finance for start-ups

The Treasury is planning to establish a national investment fund to help cutting-edge British start-ups, which it says receive less funding than their US counterparts, and is consulting on the options for increasing the availability of patient finance

Insight / Warning of tough action on labour law breaches

Companies have been warned they could face tougher action on breaches of labour laws, including failure to ensure their supply chain is meeting all regulations, as part of a new strategy being developed by Sir David Metcalf, the recently appointed director of labour market enforcement

Insight / Review of Groceries Code Adjudicator finds persistent ‘climate of fear’ in suppliers

A statutory review of the Groceries Code Adjudicator (GCA) has found an ongoing concern that some supermarket suppliers are reluctant to bring issues to the adjudicator owing to a ‘climate of fear’

Insight / Ethics board looks at professional scepticism and judgment

The International Ethics Standards Board for Accountants (IESBA) is consulting on new guidance on professional scepticism and professional judgment, which will emphasise the importance of accountants not simply accepting information at face value, and will be included in a planned revision of its code of ethics for professional accountants due at the end of this year

Insight / IESBA seeks feedback on key issues for code of ethics revision

The International Ethics Standards Board for Accountants (IESBA) has launched a survey seeking comments, views, and insights from stakeholders as the first step in identifying the key issues it should address in revising its code of ethics for professional accountants

Insight / EU’s financial regulator up for review

The European Commission has launched a consultation on the role of the European Supervisory Authorities (ESA) to review its effectiveness and long-term stability ahead of Brexit, with possible reform to give it more power in regulating financial markets across the EU

Insight / FCA proposes overhaul of IPO information

The Financial Conduct Authority (FCA) is consulting on a package of measures to reform the availability of information during the UK equity initial public offering (IPO) process, largely relating to the timing, sequencing and quality of information being provided to market participants

Insight / DWP consults on defined benefit pension scheme reforms

The Department for Work and Pensions (DWP) has launched a consultation on measures to ensure defined benefit (DB) pension schemes within the private sector remain a secure and sustainable option, given the growing number of schemes in deficit

Accounting / Corporate governance rules should extend to ‘large private companies’

The corporate governance and reporting requirements for public listed companies should be extended to private companies to try to avert another BHS debacle, including large private companies with over 5,000 defined benefit pension scheme members, say MPs on the work and pensions committee

Insight / MOJ considers tougher laws on corporate economic crime

The Ministry of Justice (MOJ) is considering introducing new laws as part of a crackdown on corporate economic crime, and is seeking views on whether further reform is needed to combat corporate criminality, following fraudulent, dishonest activity by some banks and other commercial organisations, reports Pat Sweet

Insight / Charity Commission to review annual return

The Charity Commission has launched a consultation as part of its two-year project to change and review what information is collected from charities as part of the annual return, so that only information required for regulatory purposes is gathered

Insight / FCA to tighten up spread betting rules

The Financial Conduct Authority (FCA) is consulting on proposals for stricter rules for firms selling ‘contract for difference’ (CFD) products to individuals, after research showed 82% of consumers lost money on this kind of spread betting, with many in danger of incurring ‘rapid, large and unexpected’ losses
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