On 1 October 2026, the FCA published Policy Statement PS26/19, confirming final rules requiring listed issuers to align their sustainability and climate disclosures with the UK Sustainability Reporting Standards (UK SRS), replacing the existing TCFD-aligned Listing Rules regime.The new regime applies on a comply or explain basis from accounting periods beginning on or after 1 January 2027, with first reporting in 2028.

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Government consultation on modernizing corporate reporting The UK government has launched a consultation on a major overhaul of the corporate reporting framework, aiming to refocus annual reports on financially material information for investors and creditors, with responses due by 30 November 2026. FRC publishes Annual Review of Corporate Reporting The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting, reviewing the quality of corporate reporting by FTSE 350 and other companies in 2025/26. FCA Primary Market Bulletin 65 FCA Primary Market Bulletin 65 addresses concerns about potentially misleading regulatory announcements, evolving sponsor due diligence practices, delayed disclosure of inside information themes, and the new simplified inside information declaration form. FCA Primary Market Bulletin 66 FCA Primary Market Bulletin 66 sets out, amongst other things, the FCA's recent thinking on when a cyber incident triggers disclosure obligations for issuers under the Market Abuse Regulation (MAR). LSE publishes 2027 Dividend Procedure Timetable LSE publishes 2027 Dividend Procedure Timetable, confirming the UK's move to T+1 settlement from 11 October 2027 and its impact on dividend timetables. Directors warned to verify identities with Companies House following first prosecutions The Insolvency Service has secured its first three convictions under the Economic Crime and Corporate Transparency Act 2023 for directors' failure to complete Companies House identity verification, highlighting the need for prompt compliance. FRC publishes ‘Provision 29 Mythbuster: Focus on Cyber’ FRC cyber mythbuster clarifies that Provision 29 declarations should address the board's assurance process, not disclose sensitive technical detail. Supreme Court upholds contractual right to loss of bargain damagesGreat Asia Maritime Limited v Orion Shipping and Trading LLC [2026] UKSC 23 The Supreme Court has clarified that ‘loss of bargain’ damages can be recovered under a contractual right of termination where the contract provides for them. Holding AGMs: lessons to learn from a recent caseMILFAM LLC v Morrow and ors [2026] CIGC (FSD) 54 A recent Cayman Islands’ case has flagged some lessons to learn around the conduct of AGMs.

The government has published a consultation setting out what it describes as a once-in-a-generation overhaul of the UK’s corporate reporting framework. The proposals are wide-ranging and ambitious. A central theme is a reaffirmation that the annual report and accounts should primarily serve investors and creditors, with a decisive shift away from lengthy "tick-box" disclosures towards reporting focused on financially material information. Companies could ultimately produce shorter and more tailored annual reports, but boards may need to exercise considerably more judgement about what is material and what can legitimately be omitted.Responses are due by 30 November 2026, and the government aims to publish a consultation outcome within six months (mid 2027).

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: PS26/16: Changes to Information Flows for UK Equity IPOs In a significant boost for UK capital markets, the FCA has scrapped two rules that had made UK IPOs slower and more costly than those in competing jurisdictions. FCA Inside information declaration form A new FCA procedural requirement takes effect on 21 September 2026 that will affect every first submission of equity documents. Issuers and their advisers will need to confirm whether a submission contains inside information and, if so, explain what that information is. Companies House delays presenter identity verification measures Companies House has postponed the introduction of mandatory identity verification for those filing documents at Companies House to no earlier than November 2027. Court permits derivative claim against director, without need to show financial loss De Menezes v Alves & Ors [2026] EWHC 1906 (Ch) The High Court has allowed a derivative claim to proceed against a director who set up a competing business, even though there was no evidence that the company had suffered any financial loss; the risk of future harm was sufficient to allow the claim to proceed.