Stefan Stern forecasts that GCs will be forced to address a renewed
attempt to fix what ails governance in UK plc
Who knew that the staid term ‘corporate governance’ could create so much excitement? That Latinate phrase seems designed to reassure: ‘governance’ suggests order, calm, and mastery. But the chaps in the boardroom – and they still are mostly chaps for all the progress on appointing women directors – had better brace themselves for an interesting few months. Continue reading “The governance dilemma”
I’ve been lucky. I didn’t always want to be a lawyer. I used to party a lot; I liked going out. I always have done. In my twenties my girlfriend suggested I do something with my life instead of faffing around. She binned me.
It is a sporting truism that it is far harder to be axed from the England football squad than it is to be included in the first place. Unfortunately, a similar tendency is apparent with risk factors in public listings of securitisation transactions. While this is true across a range of issues, it is particularly true with risk factors relating to geopolitical events and concerns. Of course, the travails of the financial markets since 2008, the unique nature of the Scottish independence referendum and the shock of the Brexit vote have given much to consider in this respect.
K collateralised loan obligation (CLO) managers have adapted their risk retention structures in response to the EU referendum vote, effectively ‘Brexit-proofing’ their structures in the event of a full Brexit where UK firms do not continue to enjoy financial passporting rights into the EU.
The UK has long prized its reputation as an attractive place to do business. Successive governments of all persuasions have consistently taken measures to make sure the UK has the most competitive corporate tax regime across the G20. With its low headline corporate tax rate and generous rules on deductibility of interest compared to other G20 partners, the UK has been ideally positioned as a place for businesses to invest and thrive.