Kingman review meaning

Government issues policy paper backing its Modern Industrial Strategy What is the impact on corporate law? The government’s Modern Industrial Strategy and the Professional and Business Services Sector Plan, both released on 23 June 2025, place a core emphasis on economic expansion and industrial revival. They also indicate a stronger commitment to ESG principles, enhanced corporate governance and regulatory overhaul—most notably via the much‑awaited shift from the Financial Reporting Council (FRC) to the Audit, Reporting and Governance Authority (ARGA). The papers set out several regulatory measures that, while not aimed squarely at equity capital markets (ECM) reform, are intended to widen access to equity funding and deepen the UK’s capital markets. ARGA—from proposal to implementation Initially mooted following the 2018 Kingman Review, ARGA is poised to become the UK’s new statutory watchdog for audit and corporate governance, supplanting the FRC. The 2025 strategy underscores ARGA’s pivotal role and proposes a staged roll‑out, yet it refrains from fixing a definitive launch date. ARGA will be vested with...

This archived Practice Note summarised a wide range of corporate governance reforms announced or brought into force during 2017–2019, such as the Companies (Miscellaneous Reporting) Regulations 2018, the 2018 UK Corporate Governance Code, the Wates Corporate Governance Principles, the 2018 revisions made to the AIM Rules and to the QCA Code, the BEIS consultation on insolvency and corporate governance, and the Kingman review. It has not been refreshed since 2019. Background In November 2016, the government, acting through the Department for Business, Energy and Industrial Strategy (BEIS), published a Green Paper on corporate governance reform (Green Paper). The Green Paper sought views on areas where changes to the UK’s corporate governance framework were being considered: executive pay enhancing the voice of employees, customers and wider stakeholders extending elements of the corporate governance regime to large private companies The government invited comments and submissions on the Green Paper by 17 February 2017. Following the consultation, in August 2017 the government issued...

A Term Explanation AIC Corporate Governance Code (AIC Code) The corporate governance code published by the Association of Investment Companies sets out a best‑practice framework for the governance of closed‑ended investment companies whose shares are traded on public markets. AIM company/AIM companies A company with a class of securities admitted to AIM, the market operated by London Stock Exchange plc. Association of British Insurers (ABI) A trade association representing the UK insurance industry with a focus on corporate governance; following its June 2014 merger with ABI Investment Affairs, the Investment Association (IA) assumed responsibility for the corporate governance guidance previously issued by the ABI. Association of Investment Companies (AIC) A membership organisation representing a broad spectrum of investment companies, investment trusts, venture capital trusts and other closed‑ended funds. Audit, Reporting and Governance Authority (ARGA) A new, independent regulator not yet in place, recommended by the Kingman Review to replace the Financial Reporting Council. Its recommended purpose is to protect investors’ interests and the...

The Companies Act 2006 (CA 2006) The Companies Act 2006 (CA 2006) addresses appointing an auditor to a private company (CA 2006, ss 485–488) as well as to a public company (CA 2006, ss 489–491). In addition, further rules concerning the appointment of an auditor may apply in certain circumstances, from time to time to a listed company, an AIM company, or a company with securities admitted to the AQSE Main Market, AQSE Growth Market or AQSE Trading (formerly NEX Exchange Main Board, NEX Exchange Growth Market and NEX Exchange Secondary Market), yet these fall outside the scope of this Practice Note. Where a fresh auditor is to be chosen in place of an outgoing auditor whose term of office has ended, or is due to end, see Practice Note: Failure to re-appoint an auditor. Regarding the terms of an auditor’s appointment and remuneration, see Practice Note: An auditor’s terms of appointment and remuneration. For a form of resolution to appoint or re-appoint an auditor and set its remuneration,...