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FCA plans changes to company listing rules

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4th Sep 2013
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The Financial Conduct Authority (FCA) has proposed changing some listing rules for companies to bring it in line with forthcoming changes to how companies report on their activities and executive pay in annual reports.

From October, all companies except small companies will be required to include a "strategic" report in their annual report. Quoted companies will need to ensure they include specific information on the company’s strategy, policy on human rights and how many women it employs. The new financial reporting regulations from the Department of Business Innovation and Skills (BIS), are trying to make company annual reports simpler and more useful for shareholders.

The FCA has announced plans to change listings rules to reflect new reporting rules. The changes, outlined in a consultation, are mostly fairly minor, but accountants with listed clients need to be familiar with them.

"After analysing the BIS Directors’ Remuneration Reporting Regulations, we conclude that, overall, the proposed Regulations do not appear to impose substantially different requirements to those set out in the Listing Rules," the FCA said. "To avoid duplication and to ease the administrative burden on issuers, we propose removing those listing rules relating to directors’ remuneration where the Regulations provide substantially the same outcome, unless the relevant listing rule applies equally to premium listed UK and premium listed overseas incorporated companies."

For most remuneration related disclosures, a premium listed company incorporated in the UK will only need to comply with the new BIS Directors’ Remuneration Reporting Regulations when making disclosures regarding directors’ remuneration, the FCA said.
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By Steve Kesby
04th Sep 2013 11:04

Err...

... didn't the FSA (the Financial Services Authority) cease to exist? Don't you mean the FCA (the Financial Conduct Authority)?

The FSA is the Food Standards Agency.

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By Robert Lovell
04th Sep 2013 12:05

Re. Steve

Thanks for pointing that out Steve - article is now amended.

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