Corporate Professionals’ Post

180th Webinar on “Recommendations for Harmonization in ICDR and LODR Regulations” 🗓️ Friday, 12th July, 2024 🕓 4:00 PM to 6:00 PM Please click to Register for participation: https://shorturl.at/xVOmQ SEBI has released a consultation paper on recommendations of the Expert Committee for facilitating ease of doing business and harmonization of the provisions of the ICDR and LODR Regulations. The Expert Committee has recommended changes in LODR Regulations to enable a single filing system through API integration between stock exchanges, integrating periodic filings, system driven disclosure of certain filings, streamlining promoter reclassification processes, exemptions for certain RPTs, additional time for disclosing board meeting outcomes and litigations, permanent allowance of virtual shareholder meetings and introducing provisions relating to appointment, reappointment, removal and disqualifications for Secretarial Auditor. Changes in ICDR Regulations include combining pre-issue and price band advertisement, allowing QR code links for additional information and voluntary disclosure of proforma financials in public issue, rights issue and for QIPs and removal of employee reservations in rights issues. The objective of the webinar is to discuss the recommendations of the Expert Committee and gain insights into the potential implications of the proposed changes. The various perspectives and suggestions of the participants emanating at the webinar will be collated and sent to SEBI for its consideration. Rush your queries at: [email protected] Please click to Register for participation: https://shorturl.at/xVOmQ

A firm's board needs to review if it is delivering good outcomes for its customers in line with Consumer Duty. Our checklist offers a way of ensuring your firm is meeting the regulator's expectations. #fca #financialservices #governance #MondayMotivation https://hubs.li/Q022wJ4T0

The Financial Conduct Authority (FCA) have published observations on #consumerduty implementation, building on their review of firms’ implementation plans and their #fairvalue frameworks and previous communications.   The FCA: 👉 reminds firms of the consumer outcomes required by the Duty 👍 sets out recent good practice, including response to our early supervisory work, to deliver these outcomes ✍ highlights areas for improvement where firms have more to do   Firms should consider the report and make improvements in line with good practice and address any gaps that are identified. The findings may be useful for firms when considering actions required to meet the 31 July 2024 implementation deadline for closed products and services.   Specific areas of focus in the publication include: 👉 Culture, governance and monitoring 👉 Consumers in vulnerable circumstances 👉The four outcomes (products and services, price and value, consumer understanding, consumer support)   Access the full publication here - https://pimfa.cc/Z7OvG   A summary is available for members on our microsite here - https://pimfa.cc/sRRRL #vulnerablecustomers

🚨ONLY 2 DAYS TO GO Register for our insightful webinar as we explore the evolving DE&I agenda from regulators, examine the current state of DE&I in financial services, and discuss how firms can prepare for upcoming regulatory changes. Here's what we'll cover: - FCA and PRA consultation papers on DE&I and the change it will impose on regulatory frameworks. - Examining the current status of DE&I in financial services. - What firms can do to be ready for the upcoming regulatory changes. 📅 Date: 26th June ⌚ Time: 11:30 AM 📍 Platform: Zoom ⏱ Duration: 30 mins 💰 Cost: FREE Learn more and register now> https://lnkd.in/dkegX3sH #DEI #FreeWebinar #FinancialServices #FCA # Diversity #Complyport #RegulatoryCompliance

#SEBI amends #disclosure requirements of material events or information - Read KPMG India's First Notes to know more

A firm's board needs to review if it is delivering good outcomes for its customers in line with Consumer Duty. Our checklist offers a way of ensuring your firm is meeting the regulator's expectations. #fca #financialservices #governance #MondayMotivation https://hubs.li/Q022wG760

Our next #regtech CPD webinar in our #unwrapped series is available for sign up. Join EY's Alex Roy and Model Office Ltd Chris Davies MSc on October 12th 10am, where we will cover and discuss key issues across the Consumer Duty validation processes and ensuring Business as Usual. We cover issues such as; -value for money i.e. benchmarking products and services value against the client experience -designing and maintaining a product manufacturer and distributer service level agreement to evidence MI and data to support good outcomes  -measurement of client good outcomes on an on-going basis  -identifying, monitoring and reporting on client data -audit gap analysis and remedy actions  -outsourced third party research and due diligence strategy -training and competence strategy fully aligned with the duty  -granular risk management strategy and action tracking  To register your interest please click below: 👇🏽 https://lnkd.in/dSHEcn_U

With just over a month to go, the FCA has updated its Consumer Duty information for firms to include information on the annual board report. The update principally consists of a reminder of the obligations in the FCA's rules. For smaller firms there is a helpful reminder that the rules apply reasonably and that the FCA acknowledges firms have different capabilities depending on their size and resources. Other things firms can learn and watch for from the update are: 1) If you're a larger firm, the FCA's indication it pays attention to size and resources is also an indication that it expects your report to be sufficiently detailed and comprehensive to reflect increased size and resource. 2) Small firms are recommended to bring independence and objectivity to the report through, for example, a critical friend. I'm not sure how many friends of small financial services firms anticipated this expansion to their friendship even a couple of months ago. 3) The corollary for large firms is that the FCA is likely to be anticipating that their processes for the board report include independence and objectivity. This may come through the board champion, but it is also worth larger firms considering independence and objectivity in their reports too. 4) Finally, the FCA will be reviewing a "broad sample" of board reports and publishing their insights. The FCA's good and poor practice on Consumer Duty has already proved a useful source of FCA views and watching out for the insights is likely to be a very helpful source for next year's report. Always happy to chat Duty and the board report any time. https://lnkd.in/eJdzMmWa #ConsumerDuty, #FCA, #Financialregulation, #financialservices

SEBI: PROPOSES RELAXATIONS IN LODR, ICDR NORMS, FOR FACILITATING EASE OF DOING BUSINESS   SEBI releases Consultation Paper on recommendations of the Expert Committee for facilitating ease of doing business and harmonization of the provisions of ICDR and LODR Regulations, seeks public comments by July 17; SEBI suggests that listed cos. be permitted to listed entities be required to disclose additional information like Memorandum of Association, Articles of Association etc. on their website, and also posits that cos. be permitted to conduct virtual or hybrid shareholder meetings on a permanent basis; Also posits additional time for disclosure of outcome of the board meeting that concludes after trading hours and for disclosure of litigations or disputes involving claims against the listed entity, as also relaxation from certain compliance requirements for companies coming out of the IBC framework; Also proposes that listed cos. be exempted from the requirement of audit committee approval and half-yearly disclosures w.r.t. payment of remuneration and sitting fees to director, key managerial personnel or senior management, except those who are part of promoter or promoter group, as also that the provision of omnibus approval to be made applicable for RPTs of subsidiaries as well, vide amnedments to LODR Regulations; In respect of ICDR Regulations, SEBI recommends combining pre-issue advertisement and price band advertisement as single advertisement, as well as disclosure of pre-issue shareholding and post-issue shareholding for promoter, promoter group and additional top 10 shareholders; Lastly, Regulator recommends that listed cos. be required to disclose information on standalone basis where issue proceeds is used to fund working capital: SEBI