Europe: ESMA fines and censures credit rating agency

The European Securities and Markets Authority has publicly censured a credit rating agency - DBRS Ratings Limited - for failing to comply with the corporate governance, compliance and record-keeping requirements under the Credit Rating Agencies Regulation (EU, No 462/2013): see here (pdf). A copy of the public notice is available here (pdf). ESMA also imposed a fine in respect of the record-keeping failures, the first time it has fined a credit rating agency. ESMA has sole responsibility for the registration and supervision of credit rating agencies in the European Union; see here for more about this particular function.

UK: Companies House - free access to all public, digital data

Companies House has announced that all public digital data held on the UK register of companies is now available to view free of charge: see here. It has also published a statistical release, for May 2015, with information about incorporated companies: see here (pdf).

Europe: Council position on banking structural reform

The Council of the European Union has agreed its negotiation position in respect of the proposals for structural reform of the banking sector: see here (pdf).

India: company law committee formed to review implementation of the Companies Act 2013

The Ministry of Corporate Affairs has set up a company law committee, the purpose of which is to review the implementation of the Companies Act 2013: see here (pdf). Public comments regarding the 2013 Act are invited: see here.

Australia: ASIC guidance - collective action by investors

The Australian Securities and Investments Commission has published an updated edition of Regulatory Guide 128 - Collective Action by Investors: see here (pdf). The guidance is intended for investors wanting to cooperate with each other in relation to their investment in a listed company or managed investment scheme. The guidance has been published by ASIC for two reasons: (1) to encourage collective action that can promote improvements in corporate governance for the long-term benefit of the entity; and (2) to deter investors from taking action that is inconsistent with the letter or spirit of the takeover and substantial holding provisions within the Corporations Act 2001.