Briefly noted

▪ The Association of British Insurers (ABI) has told the UK government that it is “disappointed” by its decision to back down on mandatory Operating & Financial Reviews for listed companies. In a response to the Department of Trade & Industry’s consultation on the change of heart, the ABI said it supported the government’s original decision to implement OFR as a statutory requirement for listed firms as it would improve the standards of narrative reporting in the UK. “The late decision to abolish the statutory OFR which cuts across the Government’s strong commitment to strategic forward-looking narrative reporting and the desire by shareholders for the same has thus been a significant disappointment,” the ABI said. (See page 10 for more on OFR).