UKSA’s policy team are drafting a reply jointly with ShareSoc to the Financial Reporting Council’s consultation on proposed revisions to the Audit Firm Governance Code.
HMT wants to facilitate wider participation in the ownership of public companies, and to remove the current disincentives.
Policyholders must have a well-informed voice and representation when policies are to be transferred
Policyholders risk of both being unable to understand the issues and being misrepresented.
“Serious Errors” in the Independent Expert’s initial report regarding policy transfers from Prudential to Rothesay
It is crucial that the interests and concerns of policyholders are represented to the Regulator. UKSA’s own expert has not had any useful response from the Financial Conduct Authority (FCA).
The FCA must address corporate culture to focus on sound consumer outcomes.
The FCA must deal with the conflict between the objectives of firms and the needs of customers.
The legal concept of ‘Duty of Care’ already exists. Why introduce an FCA construct with no widely accepted meaning?
LIAS or LIARS? Our view is that the proposals should be killed at birth.
UKSA & ShareSoc have responded jointly to the most important review of auditing and corporate governance for a generation
Multiple corporate failures such as Carillion & Patisserie Valerie show that something has gone wrong with auditing and with the way companies are run. As mentioned on our page “Are you happy with the quality of corporate reporting? Have your say” the Government is trying to fix this.
Companies get into trouble for all sorts of reasons. Shareholders have a duty of care to ensure the best possible outcome for all stakeholders.
The Governor of the Bank of England replies to a Joint UKSA and ShareSoc letter about the Archegos fallout. The broad structure is defined. It is down to individuals to make sure it works – the weak spot.