Legal Briefings – Latest
In this article we examine the key differences between the self-reporting initiative operated by the Crown Office and Procurator Fiscal Services (COPFS) in Scotland and the deferred prosecution regime now operating in the rest of the UK. Any business that uncovers corruption within the organisation should make sure it understands the differences between the two regimes before deciding which authority to approach.
The UK’s vote on 23 June 2016 to leave the European Union raises a wide variety of legal issues and questions. With the UK Government unlikely to trigger Article 50 of the Treaty on European Union until early 2017, and then at least a further two-year negotiation window to determine the future relationship between the UK and the EU, it will be some time before the structure of the future UK/EU relationship is agreed or even much clearer. The flip side of the coin is that, until Brexit happens, it is very much business as usual.
Corporate & Commercial
There appears to be varying degrees of readiness across the breadth of MAR legislation, which reflects PwC Legal’s experience that only a small proportion of companies are totally prepared due to the uncertainties in the interpretation of MAR and related regulations. Given that some of the seven Implementing Regulations were only published late in June 2016, this is not surprising. However, by focusing on what is known and the guidance on Implementing Regulations that has been published, there are some key steps that GCs can take to help ensure their Companies, Persons Discharging Managerial Responsibilities (PMDRs) and Insiders are compliant with MAR.
The Fair Consideration Framework (FCF) was introduced in Singapore in August 2014 with the aim of promoting fair employment practices. It requires employers to consider Singaporeans fairly for job vacancies and to provide them with equal employment opportunities based on merit. Under the FCF, it was noted that companies which have scope to improve their hiring and career development practices would be identified and monitored by the government. These companies may include those that have a disproportionately low concentration of Singaporeans at the professional, executive, managerial and technical (PMET) level compared to others in its industry, or those companies with repeated complaints of nationality-based or other discriminatory human resource practices.