Minutes of UKEB Private Meeting 16 November 2023

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PRESENT:

Name	Designation
Pauline Wallace	Chair
Amir Amel-Zadeh	Member
Mike Ashley	Member
Kathryn Cearns	Member
Katherine Coates	Member
Robin Cohen	Member
Edward Knapp	Member
Paul Lee	Member
Giles Mullins	Member
Liz Murrall	Member
Sandra Thompson	Member
Michael Wells	Member

1. Administrative Matters

Welcome and apologies for absence Apologies were noted from Phil Aspin. Kathryn Cearns left the meeting at 17:00 (towards the end of item 4). Sandra Thompson left the meeting at 17:15 (end of item 4).
Declaration of interests There were no declarations of interest.
Minutes of the last meeting The Board approved the minutes of the meeting held on 19 October 2023 for publication, subject to a minor amendment.
Action Log The Board noted progress against the action log arising from previous meetings.
UKEB Forward Agenda The Board considered the Forward Agenda.
Transparency Register The Board approved the Transparency Register for publication, subject to a minor amendment.
Gifts & Hospitality Register The Board approved the Gifts & Hospitality Register for publication.

2. Financial Instruments with Characteristics of Equity – Education Session

The Board received an education session on the topic of Financial Instruments with Characteristics of Equity. CEO of the Financial Reporting Council (FRC)

3. CEO of the Financial Reporting Council (FRC)

The Board welcomed Richard Moriarty, the new FRC CEO and FRC and UKEB Accounting Officer.

4. Regulatory Strategy and Budget

The Board considered the updated draft of the Regulatory Strategy and Budget 2024/25.

5. Adoption of standards: cost-benefit analysis and assessment of wider economic impacts

The Board considered the proposed approach for conducting economic evaluations of an endorsement process, that is broadly in line with the Better Regulation Framework (BRF), and also forms part of the long-term public good assessment.