Minutes of the March 2011 meeting of the CLLS Company Law Committee
The minutes of the March 2011 meeting of the City of London Law Society Company Law Committee can be read at the Society’s website here. Of interest in these minutes are:
- Inside information: The Committee discussed whether the Upper Tribunal’s interpretation of the meaning of “inside information” in the context of the market abuse offence was correct in its recent Massey v Financial Services Authority decision. (We discussed the Massey case in this post.)
- Future powers of the UKLA: The UKLA may be given power to require a listed issuer, at the issuer’s cost, to have a skilled person prepare a report on a matter in respect of which the UKLA could require information to be supplied. The Committee is opposed to that suggested extension of powers, which is contained in the Government’s proposed reforms to the system of UK financial regulation, which we discuss here.
No doubt to the relief of the Court of the Appeal, the Committee agreed with its interpretation of the Duomatic principle in the recent Schofield case, which we discussed in this post.
Friendly Corporate PSL
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