Title

UK Corporate Finance Update Coronavirus (COVID-19)-Related Measures and Guidance
Client Memorandum

Created date

3/23/2020

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.