In this episode of Governance Watch, we explore four major regulatory and compliance developments that UK companies and governance professionals need to act on now.

🔹 Failure to Prevent Fraud
A new corporate criminal offence under the Economic Crime and Corporate Transparency Act 2023 came into force on September 1st. Companies can now be held liable for fraud committed by employees or agents unless they have a robust fraud prevention framework in place.

🔹 Sustainability Reporting Overhaul
The UK is moving toward adopting ISSB standards (S1 and S2), with UK Sustainability Reporting Standards (UK SRS) expected by year-end. Meanwhile, the EU is revising its ESRS to reduce complexity—impacting UK companies with European operations.

🔹 Director Identity Verification
From November 18th, Companies House will require identity verification for all new directors, LLP members, and persons with significant control (PSCs), with a 12-month transition period for existing individuals. This aims to improve transparency and reduce fraud.

🔹 Modern Slavery Reporting Guidance
New government guidance introduces a two-tier framework to help companies benchmark and improve their modern slavery compliance. While not mandatory, it’s a valuable tool for risk management and reputational protection.

🎙️ Featuring expert insights from Neil Donovan, Becky Clissmann, and Will Chalk of Ashurst, this episode offers practical advice and strategic context to help boards, compliance teams, and governance professionals navigate evolving regulatory landscapes.