A NOTEPAD ON COMPANY AND FINANCIAL LAW, NEWS AND REGULATION
The preliminary F-1 Registration Statement is here for the IPO of “Manchester United Ltd.” on the New York Stock Exchange.
Remarkably, the club qualifies as an “emerging growth company” under the US Jumpstart our Business Startups Act of 2012. From the F-1:
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Prompted by the failure of the Royal Bank of Scotland and in the spirit of Barclays travails, HM Treasury today launched a consultation on possible sanctions for directors of failed banks. The consultation document is here and the accompanying Treasury press release is here.
The two principal measures suggested in the consultation document are:
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Last week we highlighted the 27 page analysis of specific “problems and anomalies” contained in the Companies Act 2006 that was compiled by the Company Law Committee of the City of London Law Society and the Law Society Company Law Committee.
The British Venture Capital Association has prepared a futher gloss on that analysis and submitted it to the Government’s “Red Tape Challenge” on company law. The BVCA submission can be read here.
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Marcus Agius back as Chairman. Announcement here.
Mr Diamond said in the announcement: “We…added our own distinctive chapter to the long and proud history of Barclays”.
UPDATE 3 July 2012: Barclays submission to the Treasury Select Committee is here. The part of interest is the file note by Bob Diamond, in which he recorded on 29 October 2008 that Paul Tucker, Deputy Governor of the Bank of England, had that day told him that “it did not always need to be the case that we [i.e. Barclays LIBOR submissions] appeared as high as we have recently”.
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With insufficient resources to recruit professional staff, the National Archives plans to use trained volunteers to update legislation at legislation.gov.uk. More in this article from the Law Society Gazette.
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