Hogan Lovells Corporate News March 2016
Small Business, Enterprise and Employment Act 2015 (SBEE): more updates
In this article we look at the revisions made to the 'final' non-statutory guidance on the PSC register, a clarification to the PSC legislation and new measures covering director disputes and registered office disputes. Read full article Modern Slavery Act 2015 (the Act) The requirement for an annual modern slavery and human trafficking statement by all commercial organisations carrying on business in the UK with a turnover of £35 million or more comes into effect for financial years ending on or after 31 March 2016. The government's statutory guidance recommends that organisations report within six months of the end of the financial year which means the first reports should be published by the end of September 2016. For more details on the UK Disclosure requirements under the Act and the statutory guidance please click here for our detailed client note. BIS consultation on UK implementation of the non-financial reporting directive
Takeover Panel consults on Code changes concerning the communication and distribution of information
Aspects of Market Abuse Regulation affected by proposed change to MIFID II date The Market Abuse Regulation (MAR) refers to concepts that will be introduced by MiFID II, such as organised trading facilities (OTFs), small and medium-sized enterprise (SME) growth markets, and emission allowances or auctioned products based on them. MAR states that its provisions will not apply to those concepts until 3 January 2017. This was the scheduled date of entry into application of MiFID II. However, on 10 February 2016, the European Commission published a draft directive to delay this by 12 months to 3 January 2018. The Commission has, therefore, also published a draft regulation to amend, amongst other things, MAR, so that its provisions will not apply to the above concepts until 3 January 2018. About Hogan Lovells
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