FCA updates to its Handbook as a result of the 2014 UK Corporate Governance Code

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28 Oct, 2015

The Financial Conduct Authority (FCA) has made various changes to its Handbook as a result of the transposition of the 2014 UK Corporate Governance Code (“the Code”).

The changes which were consulted on in CP 15/19: Quarterly Consultation No.9 include:

  • Updating the definition of the Code in the Glossary and in the Listing Rules and to make a number of consequential changes most notably to the Listing Rules and the Disclosure and Transparency Rules.
  • Amending the Listing Rules (LR 9.8.6R (3)) to require the directors to make disclosure relating to both the going concern basis of accounting and to the long-term viability of the entity.
  • Updating LR 9.8.10R (1) relating to auditor reporting on going concern to refer to the revised requirement. 

A number of other consequential amendments to the Handbook have also been made which are discussed within the FCA Handbook Notice No. 26 (link to FCA website) and the legal instrument (Corporate Governance Code And Miscellaneous Amendments Instrument 2015) that gives effect to these updates.

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