News that any AIM company secretary should be firmly aware of is the recent release by the London Stock Exchange (LSE) of a notice, to Nominated Advisers and all AIM companies, that it is consulting on proposed alterations to the AIM Rules for Companies. Such changes will apply to both investing companies and AIM companies undertaking a fundamental change of business, with the AIM Note for Investing Companies also being modified as a result. Continue reading
Requirements for when an auditor leaves office now simplified
Many of those that have changed auditors for their companies will not need to be reminded of the, obligations are outlined in the Companies Act 2006 on both an outgoing auditor and the company that it is ceasing to audit. These measures ensure that both company shareholders and the appropriate authorities are informed about the departure of the auditor and the reasons why. Continue reading
Government issues response on nullifying ban on invoice assignment contract clauses
With so many of those that take advantage of London Registrars’ business formation services being frequently anxious about accessing finance and maintain their company’s cash flow, they may be interested to read the Government’s response – released in August – on the subject of nullifying the ban on invoice assignment contract clauses. Continue reading
The very real difference that company secretaries can make to board effectiveness
While many organisations are familiar with the basic work that company secretaries do in ensuring compliance with standard financial and legal practice and maintaining the highest corporate governance standards, far fewer businesses realise the potential a company secretarial service has to assist in making their board more effective. Continue reading
Latest version of charity regulator’s guidance document released
Trustees of charities many of whom are already using London Registrars’ risk and compliance services will be interested to hear that a new version of the Charity Commission’s guidance document geared to their needs, The essential trustee, has now been issued. Continue reading
New Brazilian Clean Company Act guidelines issued
Over twelve months after the enactment of the Brazilian Clean Company Act or BCCA, the guidelines explaining a number of its provisions have been released by the Brazilian government via a decree, news which will intrigue many of those using or contemplating risk and compliance services both here and abroad. Continue reading
More properties caught in ATED net
The country’s buy-to-let landlords have already experienced a tough tax regime and rising costs, but they should now strongly consider seeking the assistance of business consultants in London to avoid being negatively affected by the Annual Tax on Enveloped Dwellings (ATED).
This special capital gains tax will affect residential properties owned by companies; meaning, where a property is owned by non-natural persons – either a company, a partnership with one or more corporate partners, or a collective investment scheme. Formerly referred to as the Annual Residential Property Tax, ATED is an annual charge on residential property within the UK. From April of this year it applies to all property valued at over £1 million, but this is set to be reduced to £500,000 by 1 April 2016. Continue reading
Smaller quoted companies receive FRC help to improve quality of reporting
Many a smaller quoted company currently benefitting from the corporate governance services of London Registrars is likely to take an interest in the Financial Reporting Council (FRC)’s recent launch of a programme of measures intended to assist firms like theirs to compile better quality corporate reports.
The FRC has published a discussion paper, entitled Improving the Quality of Reporting by Reporting by Smaller Listed and AIM Quoted Companies, in which it outlined the results of a review of the standard of reporting for such companies. Feedback on the findings and conclusions was also requested.
Describing smaller quoted companies as “critical to generating future jobs and growth in the economy”, the FRC’s CEO, Stephen Haddrill, said that they nonetheless required “access to capital to invest and grow. We recognise that these businesses have limited resources and face challenges in reporting. Continue reading
Bearer shares abolished by SBEE Act 2015
Important news for many of those organisations using London Registrars’ business consulting service is the abolition, as of 26 May 2015, of bearer shares, which are shares that have been issued but have no registered owner. The change has been brought into law by the Small Business, Enterprise and Employment Act 2015 (SBEE)’s implementing of amendments to the Companies Act 2006. Continue reading
Nearly a quarter of FTSE 100 board positions now filled by women
A development of great relevance to corporate governance in the UK over the last four years has been the increasing prominence of female faces in top companies’ boardrooms. Lord Davies of Abersoch’s annual report publishing the current state of gender diversity on FTSE boards, reveals that women now occupy almost a quarter of FTSE 100 board positions. Continue reading