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Share incentives update: UK Corporate Governance Code 2024 (malus/clawback), Endeavour Mining remuneration clawback, Retained EU Law reforms, and tax/employment developments—25 January 2024

Published on: 25 January 2024

Published by a LexisNexis Share Incentives expert
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In this issue:

  • Corporate governance
  • Retained EU law
  • Q&As
  • Useful Information
  • Weekly highlights from other practice areas

Corporate governance

FRC revises UK Corporate Governance Code

The Financial Reporting Council (FRC) has published an updated UK Corporate Governance Code (UKCG Code) (the 2024 UKCG Code), introducing only modest amendments to the 2018 iteration (the 2018 UKCG Code). This update follows the FRC’s consultation issued on 24 May 2023, which backed the legislative changes set out in the government’s response to its May 2022 White Paper, Restoring Trust in Audit and Corporate Governance (for further details, see: Share Incentives weekly highlights—25 May 2023—Corporate governance). The consultation presented 18 proposals to revise the 2018 UKCG Code, with an emphasis on establishing a stronger framework for prudent, effective risk management and internal controls. However, on 7 November 2023 the FRC stated that it would not proceed with most of its suggested revisions to the 2018 UKCG Code, so as to lessen the reporting burden on companies (see: Share Incentives weekly highlights—9 November 2023—Corporate governance)...

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