Medium-sized companies regime meaning

STOP PRESS: A major overhaul of the UK listing framework took effect on 29 July 2024, removing the premium and standard listing segments and introducing a single listing category for equity shares issued by commercial companies. The commercial companies category is strongly disclosure-led and sits alongside other listing categories, namely shell companies, the secondary listing and closed ended investment fund categories. To implement the reforms, a new UK Listing Rules sourcebook came into force, and the former Listing Rules sourcebook was withdrawn. For further details and background, see Practice Note: Reform of the UK listing regime—fundamentals. This Flowchart sets out the listing regime as it applied before 29 July 2024, for ease of reference. You can view or print a full sized PDF version...

In this issue: Environmental, Social and Governance Issues Accounts and reports Corporate Governance Public company takeovers Data Protection Daily and weekly news alerts Dates for your diary Trackers Useful information Environmental, Social and Governance Issues FCA consults on UK Sustainability Reporting Standards The Financial Conduct Authority (FCA) is seeking feedback on bringing listed companies’ sustainability statements into line with the UK Sustainability Reporting Standards (UK SRS). Consultation paper CP26/5 invites opinions on substituting the FCA’s existing disclosure regime, which is aligned to the Task Force on Climate-related Financial Disclosures (TCFD), with a UK SRS-based reporting model for relevant listed entities. Submissions are requested by 20 March 2026. See: LNB News 30/01/2026 58. Accountancy Europe publishes factsheets on Omnibus Directive changes to CSRD and CSDDD Accountancy Europe has released factsheets examining the EU Omnibus Directive, which revises both the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The...

In this issue: Company law, governance and regulatory matters New content Dates for your diary Weekly highlights from other practice areas Company law, governance and regulatory matters HM Treasury Regulation Action Plan includes simplified remuneration reporting and discontinuance of IA register The UK Government has set out sweeping measures to streamline corporate reporting under its Regulation Action Plan. The package targets a 25% reduction in business red tape (£5.6bn a year) and a modernised reporting regime, with legislation to strip out duplication across company accounts and directors’ reports. Planned headline changes include: companies will no longer need to prepare a directors’ report; some requirements will be abolished outright, with others repositioned elsewhere within the annual report, and most medium-sized private companies and wholly owned subsidiaries will no longer have to produce a strategic report These sit alongside implemented reforms that widen company size thresholds. Monetary limits defining small, medium and large...

In this issue: EU fundamentals Commercial Competition and state aid Corporate Data protection and cybersecurity Free movement, immigration and employment Financial services Environment Insurance and reinsurance IP Life sciences Regulatory TMT International trade LexTalk®EU Law: a Lexis®Nexis community Daily and weekly news alerts Trackers New and updated content EU fundamentals European Commission releases April 2024 infringements package The European Commission has unveiled its April 2024 infringements package, identifying the EU Member States facing action for breaches of obligations under EU law. This round includes letters of formal notice sent to France for incorrect transposition of Directive 2008/98/EC on waste, as amended by Directive (EU) 2018/851 (the EU Waste Framework Directive); to Austria for failing to properly transpose Directive 2011/92/EU, as amended by Directive 2014/52/EU, into national law (the EU Environmental Impact Assessment Directive); and to Lithuania for shortcomings in incorporating Directive (EU) 2015/2193 into domestic...

ARCHIVED This Practice Note is archived and no longer maintained. It offers historical context and outlines concepts such as UK mini-bonds and the Order Book for Retail Bonds (ORB). With the advent of the new UK prospectus regime, these concepts are being phased out or materially reformed. It is provided for background information only. For more on the new UK prospectus regime, see Practice Note: The UK Prospectus Regulation—essentials [Archived]—Reform of the UK prospectus regime. Introduction Traditional debt capital markets Historically, large corporates have tapped the debt capital markets to raise funds from an investor base made up largely of investment funds, pension funds, insurance companies and other institutional investors. Consequently, debt capital markets transactions have typically been characterised by: substantial issue sizes—typically at least £50m (or the equivalent in another currency) and frequently above £100m uniform distribution and underwriting procedures, whereby a lead manager with co-managers—or dealers for issues under a Euro Medium-Term Note (EMTN) programme—interposes between the issuer and prospective...

This Practice Note maps the rules governing pay for directors of quoted companies, set against rising shareholder activism and greater media scrutiny of executive reward. It distils the statutory reporting regime on directors’ remuneration for quoted companies and highlights key provisions of the Companies Act 2006 (CA 2006), the UK Listing Rules (UKLR), the Financial Reporting Council’s (FRC) UK Corporate Governance Code (UKCG Code), together with best practice guidance on executive pay... Directors’ remuneration—law, regulation and best practice Legislation Under the CA 2006 and the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410, directors of a quoted company must produce an annual remuneration report disclosing prescribed details of directors’ pay. For CA 2006 purposes, a quoted company is a UK company whose equity share capital: has been admitted to the Official List of the London Stock Exchange is officially listed in an EEA state, or is admitted to dealing on the New York Stock Exchange or NASDAQ...

A company, and its directors, carry numerous duties concerning accounts and reporting under the Companies Act 2006 (CA 2006). This Practice Note concentrates on obligations common to every company. Further, particular duties in CA 2006 tied to accounts and reports differ depending on whether the entity is small, medium-sized, quoted, or unquoted. For guidance on those particular requirements and when they take effect, consult the following Practice Notes: The small companies regime The medium-sized companies regime The quoted companies regime The unquoted companies regime To obtain an overview of the statutory reporting regime itself, see Practice Notes: Accounts and reports—an outline of the statutory framework and Accounts and reports—individual and group accounts. Further obligations, in addition to those in CA 2006, apply to the accounts and reports of listed companies, AIM companies, and companies with securities traded on the AQSE Main Market, AQSE Growth Market or AQSE Trading (formerly NEX Exchange Main Board, NEX Exchange Growth Market and NEX Exchange Secondary...