What corporate governance issues can a commercial lawyer help me with?

In the UK, the Financial Reporting Council is responsible for maintaining high standards of corporate governance in UK companies. The principle legal document on corporate governance in the UK is the UK Corporate Governance Code, formerly known as the Combined Code. The Code sets out standards of good practice in relation to board leadership and effectiveness, remuneration, accountability and relations with shareholders.

Some of the principles points of corporate governance are fairly straight forward. These include safeguards such as: having a separate Chairman and Chief Executive; having a balance of executive and non-executive directors; having independent audit committees; having transparency on appointments and remuneration of the board; encouraging shareholder participation and ensuring shareholder rights are respected. Whilst the Code sets out these best practice guidelines, a company is free to deviate from some of the guidelines if it will better suit their company.

Commercial lawyers can help with corporate governance issues at any stage of the company's life cycle. It is highly advisable to get thorough corporate governance advice from an experienced commercial lawyer early in the establishment of your company. Once processes and procedures are in place it can be more difficult to vary them to ensure corporate governance. Similarly, effective corporate governance requires there to be a corporate culture that fosters respect for corporate governance and legal and regulatory compliance. For example, commercial lawyers can draw up a company's policies to ensure that corporate governance principles are respected in all aspects of the company's management, from the lower levels of management right to the top.

Article Source: http://www.onlinearticlessite.com

If you would like to know more about company law solicitors, lawyers company or company solicitors please visit ContactLaw.co.uk solicitors and Lawyers.

Please Rate this Article

5 out of 54 out of 53 out of 52 out of 51 out of 5 

Not yet Rated