Ingate Interim and Consulting
The main government department for business and industrial strategy is the Department for Business, Energy and Industrial Strategy see www.gov.uk Its remit also includes science, innovation, energy and climate change. It has responsibility for over 40 agencies and public bodies including Companies House, the Competition and Markets Authority, ACAS, and a large number of research councils and tribunals.
Recent publications and reviews of note
The most significant current topic is the review of the UK Corporate Governance Code following on from the BEIS Committee recommendations and the Government's response to those recommendations. This includes a focus on directors' responsibilities under s172 of the Companies Act.
In September 2017 the ICSA and Investment Association produced joint guidance on the "Stakeholder Voice in Board Decision- Making", including 10 principles to help boards consider how to take account of stakeholder interests in making decisions.
"Good work" the Taylor Review of modern working practices July 2017 set out 7 principles of good working practice.
The Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and for financial markets in the UK. It is the prudential regulator for over 18,000 of those firms. It works to ensure that financial markets are honest, fair and effective, regulating a sector which is critical to the lives of everyone in the UK and a modern economy. Its work is defined in the Financial Services and Markets Act 2000 (FSMA). It was established in 2013 taking over responsibility from the FSA.
The Prudential Regulation Authority (PRA) is the prudential regulator of banks, building societies credit unions, insurers, and designated investment firms. www.bankofengland.co.uk
The source for reporting and other guidance such as on board effectiveness is the Financial Reporting Council at www.frc.org.uk
The Registrar of Companies for England and Wales site at www.companies-house.gov.uk includes a range of fact sheets.
For social housing the Homes and Communities Agency of the Department for Communities and Local Government is responsible for regulation. Its published approach sets out its objectives for economic and consumer regulation. Key concerns are: Governance and Financial Viability; Value for Money and Rent; together with Consumer Standards.
The Charity Commission is the main regulator for the not-for-profit sector. A new Charity Governance Code was published in July 2017 in response to the challenges that the sector has faced in the last two years.