Thursday, 19 December 2019

UK: The Queen's Speech - the Government's legislative programme

The State Opening of Parliament took place today with the Queen's Speech setting out the Government's legislative programme. The briefing notes accompanying the Speech, explaining in more detail the Bills that the Government intends to introduce, are available here (pdf). In the section of this document discussing the proposed Employment Bill, the following is said:
We will also develop proposals on company audit and corporate reporting, including a stronger regulator with all the powers necessary to reform the sector. These proposals aim to improve public trust in business, following the three independent reviews [see here, here and here] commissioned in 2018. It will also help workers employed by a large company in future to know how resilient it is".

Other proposals include the introduction of a new insolvency regime for airlines and further financial services legislation - the latter to include measures dealing with the selling of overseas investment funds in the UK and the UK's implementation of the Basel Framework standards following its departure from the European Union.

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