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: FTSE Russell comments on UK Listing Rule Reform In light of the changes proposed to the UK listing regime, FTSE Russell currently anticipate that the new Equity Share (Commercial Companies) and the Closed Ended Investment Fund categories will replace the Premium segment as the eligible index universe for the FTSE UK Index Series. FCA transformative proposals for UK Listing Regime – an Update Following the FCA’s consultation paper in December 2023 with wide reforms to the Listing regime, the FCA has published the remaining draft Listing Rules. Update report from the Parker Review An update report from the Parker Review on Ethnic Diversity highlights that 79% of FTSE 250 companies have met the target of at least one minority ethnic director on the board, ahead of the December 2024 deadline. Pre-emption Group – annual report 2022-2023 The Pre-emption Group has published its finding of the application by FTSE 350 companies of the new Pre-emption Group Statement of Principles, published in November 2022.

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: FTSE Women Leaders Review – Year Three Reported numbers in this report show steady gains for women in leadership roles but there is still more to do as the Review closes year three of its five-year term. IA Letter to Remuneration Committee Chairs Ahead of the 2024 AGM season and a fundamental review of the Principles of Remuneration, the Investment Association has written to chairs of Remuneration Committees outlining the issues the IA will be considering in their review and the main themes for 2024. FRC launches review of UK Stewardship Code The FRC is reviewing the UK Stewardship Code and is seeking views from all stakeholders on its efficiency in promoting better stewardship outcomes from engagement with issuers across all asset classes. The need to complete audit reforms The CEO of The Chartered Governance Institute UK & Ireland, has written to the government calling for completion of the UK's audit, corporate reporting and corporate governance system reform “in order to restore confidence to the financial markets and to provide other stakeholders with reassurance”. New PLSA Stewardship and Voting guidelines for 2024 The Pensions and Lifetime Savings Association has published its 2024 Stewardship and Voting Guidelines ahead of the 2024 AGM season containing significant changes to address the current economic climate and the increasing risks associated with cybersecurity and AI. FRC Thematic Review of reporting by UK’s largest private companies With varying degrees of reporting quality, the FRC encourages companies to consider their findings and expectations in the report when preparing their next annual reports and accounts.