UK Corporate Finance Update Coronavirus (COVID-19)-Related Measures and Guidance
With the onset of the coronavirus (COVID-19) pandemic, this memorandum provides a brief summary of the first of what will likely be multiple rounds of measures taken, and guidance issued, that is relevant to London-listed companies and their advisers.
Measures taken, and guidance issued, so far include:
- a reminder from ESMA and the FCA for listed companies to continue to comply with the Market Abuse Regulation;
- a lower threshold for short selling notifications;
- acknowledgement from the FRC and the FCA that companies and their auditors may face challenges with the current annual corporate reporting season, but a reminder that audit standards should remain high and companies must endeavour to meet reporting deadlines; and
- guidance from The Chartered Governance Institute on alternative approaches for companies to take to their forthcoming AGMs.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
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