<p>Filter Knowledge</p>

To ensure that the UK has a functioning statute book after Brexit, many thousands of changes are being made by statutory instrument, with limited scrutiny from Parliament. 

New rules implementing the Shareholder Rights Directive II ("SRD II") have come into force today. There are two key areas of change that are relevant to listed companies:

The new Regulation on prudential requirements for MiFID investment firms (IFR) and the accompanying Directive (IFD) have now been passed by the European Parliament and, subject to adoption by the European Council (which is expected shortly), will become law.

Is the UK's anti-bribery regime about to be put back in the spotlight? A House of Lords Select Committee has published its long-awaited report on the UK Bribery Act 2010.

If the UK departs the EU on 29 March 2019 without an agreement in place, manufacturers and importers of industrial and consumer goods selling into the UK and/or EU will face a range of compliance and market access challenges. With fewer than five weeks remaining, 'no-deal' contingency plans should be implemented.

"In this briefing we summarise some of those key known knowns and known unknowns which should be the focus of attention for firms in the coming year and beyond. As for the unknown unknowns, who knows?

Brexit will give rise to an array of complex commercial and legal issues in the regulatory, trade and environmental law spheres. These apply across the spectrum - from site-based operations, to products, export and trade, to regulated industries, through to the governance of compliance and risk by businesses more generally.

Welcome to the latest edition of our Anti-Bribery Newsletter, our regular review of developments in the fight against bribery and corruption in the UK and other jurisdictions.

Earlier this week, the FRC published the final Wates Corporate Governance Principles for Large Private Companies (the "Principles"), which provide a framework for large private companies to comply with their new corporate governance reporting requirements under The Companies (Miscellaneous Reporting) Regulations 2018 (the "Regulations"). The new requirements apply in relation to financial years beginning on or after 1 January 2019, and BEIS stated in its recently updated FAQs on the Regulations that it expects the Principles to be widely adopted. For background information on the Regulations please see our client note and table summarising the scope of the Regulations.

Doug Bryden and John Buttanshaw write for Who's Who Legal on Responsible investment.

Recent months have borne witness to increasing pressure from NGOs, watch groups and the UK Government on organisations to comply with their corporate reporting obligations under the UK's Modern Slavery Act (MSA). If you fail to comply, be prepared for public "naming and shaming" in 2019.

Earlier this week, against the background of the renewed focus on corporate governance and reporting, the GC100 Group published practical guidance¹ for boards on compliance with section 172 of the Companies Act 2006. Please see our recent briefings for further information on changes to the UK Corporate Governance Code and the Companies (Miscellaneous Reporting) Regulations 2018.

Earlier this week the FRC published the final version of the revised UK Corporate Governance Code, which will take effect for financial years beginning on or after 1 January 2019. It also published a Feedback Statement outlining the responses to its December 2017 consultation on the proposed changes, together with a "Key Highlights" document.

Since 6 April 2016, unlisted UK companies and LLPs have been required to identify individuals who have significant interests in their shares, and publicly disclose their details in a "PSC Register". The regime was expanded in June 2017 to bring other entities, including AIM companies, Scottish limited partnerships and some Scottish general partnerships within scope.

In the first contested prosecution under section 7 of the UK's Bribery Act 2010 (the "Act"), a Londonbased interiors company has been found guilty of the 'corporate offence' of failing to prevent bribery.

On 10 January 2018, the Government published its plan to improve the environment over a 25 year period. It discusses a wide range of ideas, including planting one million urban trees, regulating farms and fisheries after the UK leaves the EU, and establishing a new national forest.

Businesses need to progress their approaches to, and governance of, human rights. In particular, organisations should track current developments relating to corporate transparency and benchmarking initiatives.

Travers Smith LLP’s Operational Risk and Environment team is delighted to be hosting this year’s International Environmental Lawyers Network Conference on 9 June.

The Department for Business, Energy and Industrial Strategy (DBEIS) published guidance for landlords of non-domestic private rented property on the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (the Regulations) on 23 February 2017 (the Guidance).

On 20 February 2017, Travers Smith organised a debate on the future of UK energy, focussing on the likely balance between traditional and renewable energy sources along with related direct and indirect environmental, social and geo-political consequences.