Judgment was delivered today by Mrs Justice Cockerill in Kelly v Baker and Braid [2022] EWHC 1879 (Comm). The case is interesting because of the circumstances in which the trial judge was required to consider whether fiduciary duties were owed to a shareholder (Mr Kelly) by those who had led a management buy-out (Mr
Latest from Robert Goddard - Page 2
OECD Corporate Governance Forum – July 14
The OECD held a Corporate Governance Forum yesterday. The day provided an opportunity for many things including an update on the OECD’s review of the G20/OECD Principles of Corporate Governance. The update was provided by the Chair of the OECD’s Corporate Governance Committee, Mr. Masato Kanda, and you can listen at the 1hr10 mark
Hong Kong: the recognition of foreign liquidations
Judgment was given last month in Provisional Liquidator of Global Brands Grpup Holding Ltd v Computershare Hong Kong Trustees Ltd [2022] HKCFI 1789. I note the decision here because – to my mind – it is now one of the leading Hong Kong authorities on the recognition of foreign liquidations.
Basel Committee: some recent publications – cryptoasset exposures; proportionality; managing and supervising climate-related financial risks
Several recent publications from The Basel Committee on Banking Supervision to note: (a) a consultation paper on the prudential treatment of banks’ cryptoasset exposures; (b) some high level considerations on proportionality; and (c) principles for the effective management and supervision of climate-related financial risks (including those relating to corporate governance, internal control and
Singapore: the oppression remedy – buy out orders, valuation and the discount for lack of marketability
UK: The Statutory Auditors and Third Country Auditors (Amendment) Regulations 2022
The Statutory Auditors and Third Country Auditors (Amendment) Regulations 2022 was made earlier this month and come into force on July 27: see here or here (pdf). The accompanying explanatory memorandum is available here (pdf). The Regulations will, amongst other things, grant full adequacy – for an indefinite period – to
UK: FRC position paper – the transition to the new regulator and other reforms
The Financial Reporting Council has today published a position paper in which it sets out the steps it will take, in support of the Government’s recently announced proposals, to reform the UK’s governance and audit framework, including its transition to the Audit, Reporting and Governance Authority: see here (pdf). The paper proposes, amongst
UK: FRC publishes research exploring impact of the revised Stewardship Code
The Financial Reporting Council has today published commissioned research which set out to explore the impact of the revised UK Stewardship Code: see here (pdf). The research concludes that there has been a positive impact on the practice and reporting of asset managers and owners. For a short overview of the research
Mongolia: Revised Code published by the Financial Regulatory Commission
A new edition of the Mongolian corporate governance code has recently been published by the Financial Regulatory Commission: see here.
Germany: New Code takes effect following Federal Gazette publication
The new edition of the German Corporate Governance Code, released earlier this year by DCGK, has now come into force following its publication yesterday in the Federal Gazette. A copy of the Code, in English, is available here; a copy in German is available here.