At a glance: UK Governance and Risk

The latest edition of our UK Governance and Risk guide covers developments which have occurred in this spring and early summer. In particular, now that the date of the next UK General Election has been set, it identifies the current status of various government initiatives.

Topics in this update include those relating to:

• General Election timings and arrangements for legislative and regulatory business,
• stewardship reforms, including the proposed update of the UK Stewardship Code and updated investor guidance,
• listed company AGMs,
• proposals to streamline regulation and reduce corporate reporting burdens,
• the continuation of requirements for reports on payments to suppliers,
• the significant and rapid developments in climate and sustainability disclosure frameworks, including in the UK, EU, US and at a global level,
• other sustainability and ESG developments, relating to new supply chain diligence obligations, transition plans, sustainability committees, critical raw materials, and ESG ratings,
• new anti-greenwashing legislation in the UK and EU to tackle unfair commercial practices and empower consumers,
• directors’ duties and responsibilities, generally, and in relation to potential climate impacts,
• diversity of ethnic and gender representation in business leadership,
• employer and workers, including changes that may come out of General Election campaign proposals of the major political parties,
• cyber and digital threats, regulation and property rights,
• changes to listed company ongoing obligations through equity markets reforms,
• regulatory actions to ensure market transparency and stability,
• the roll out of new UK corporate transparency measures to combat economic crime,
• guidance for complying with US and EU economic sanctions, and
• updates on the law of contracts for English law agreements.