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03 March 2011 / Eleanor Baxter
Issue: 7455 / Categories: Features , Costs
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Corporate governance 2011

Eleanor Baxter reviews the evolving corporate governance environment

As listed public companies prepare for their 2011 AGMs, they will need to take stock of the many recent and ongoing developments in the field of corporate governance.

2010 saw the revision of the Combined Code following its review by the Financial Reporting Council (the FRC). The renamed UK Corporate Governance Code (the Code) applies to companies with financial years beginning on or after 29 June 2010, so will soon universally apply to listed companies. While the Code did not mark a complete overhaul of the recommended governance framework under the Combined Code, which was found to be largely fit for purpose, there have been a number of key, and some controversial, changes including:

  • the recommendation of the annual re-election of all directors of FTSE 350 companies;
  • the requirement to give due regard to the benefits of diversity on the board, including gender;
  • the emphasis throughout the Code on the need for links between remuneration, individual performance
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MOVERS & SHAKERS

Switalskis—Naila Arif, Harriet Findlay & Ellie Thompson

Switalskis—Naila Arif, Harriet Findlay & Ellie Thompson

Firm awards training contracts to paralegals through internal programme

Ward Hadaway—Matthew Morton

Ward Hadaway—Matthew Morton

Private client disputes specialist joins commercial litigation team

Thomson Hayton Winkley—Nina Hood

Thomson Hayton Winkley—Nina Hood

Cumbria firm appoints new head of residential property

NEWS
Freezing orders in divorce proceedings can unexpectedly ensnare third parties and disrupt businesses. In NLJ this week, Lucy James of Trowers & Hamlins explains how these orders—dubbed a ‘nuclear weapon’—preserve assets but can extend far beyond spouses to companies and business partners 
A Court of Appeal ruling has clarified that ‘rent’ must be monetary—excluding tenants paid in labour from statutory protection. In this week's NLJ, James Naylor explains Garraway v Phillips, where a tenant worked two days a week instead of paying rent
Three men wrongly imprisoned for a combined 77 years have been released—yet received ‘not a penny’ in compensation, exposing deep flaws in the justice system. Writing in NLJ this week, Dr Jon Robins reports on Justin Plummer, Oliver Campbell and Peter Sullivan, whose convictions collapsed amid discredited forensics, ‘oppressive’ police interviews and unreliable ‘cell confessions’
A quiet month for employment cases still delivers key legal clarifications. In his latest Employment Law Brief for NLJ, Ian Smith reports that whistleblowing protection remains intact even where disclosures are partly self-serving, provided the worker reasonably believes they serve the ‘public interest’ 
Family law must shift from conflict-driven litigation to child-centred problem-solving, according to a major new report. Writing in NLJ this week, Caroline Bowden of Anthony Gold outlines findings showing overwhelming support for reform, with 92% agreeing lawyers owe duties to children as well as clients
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