Tag Archives: Corporate governance
UK: Corporate governance – LAPFF guidelines on executive pay
The Local Authority Pension Fund Forum has published guidelines on its expectations for executive pay. The LAPFF represents 56 local authority pension funds with over £115 billion in assets. The guidelines, which have been sent to FTSE 350 companies, set … Continue reading
Filed under Jurisdiction: UK, Remuneration
UK: Reform of Directors’ Remuneration: Revised Draft Regulations Published
A revised draft of the Directors’ Remuneration Report Regulations has been circulated by BIS, inviting comments by 25 March 2013. This follows the government’s formal consultation on directors’ pay and remuneration reporting reform last June. The final Regulations are due … Continue reading
Filed under Jurisdiction: UK, Remuneration
UK: Rethink on Boardroom Pay
The National Association of Pension Funds and Hermes Equity Ownership Services have called for a major rethink on executive pay and its alignment with the long-term performance of the company. The report, published on behalf of a number of pension … Continue reading
Filed under Jurisdiction: UK, Remuneration
UK: Non-executive directors – new ICSA guidance on care, skill and diligence
The Institute of Chartered Secretaries and Administrators has issued new guidance on the liability of non-executive directors in the context of the statutory duty to exercise care, skill and diligence. The guidance suggests ways in which non-executive directors can approach their … Continue reading
Filed under Jurisdiction: UK
EU publishes draft directive on board gender diversity
The European Commission has published a draft Directive which aims to improve gender diversity on boards of EU listed companies. The draft sets a 40% “minimum objective” for the proportion of female non-executive directors. The proposal also requires companies to publish targets for female representation among … Continue reading
EU Directive regarding women on boards postponed
Viviane Reding, EU Commissioner for Justice, Fundamental Rights and Citizenship, has announced today that the European Commission’s vote on her proposal to introduce a mandatory quota for women on the boards of listed companies in member states has been postponed. … Continue reading
UK: Quoted companies to be required to report on ‘diversity in the board and beyond’
The government, through the Department of Business, Innovation and Skills (BIS), has published draft regulations which will require all large and medium sized companies to produce a new ‘Strategic Review’ as part of their annual report, similar to the current Business … Continue reading
Filed under Boardroom diversity, Jurisdiction: UK
Corporate governance – Kay Review Final Report published
The Final Report by the Kay Review into UK equity markets and long-term decision making has now been published. The Final Report has concluded that short termism is a problem in the UK equity markets and that the principal causes … Continue reading
Filed under Jurisdiction: UK, Remuneration
Executive remuneration: government proposals
On 20 June, the Government announced its revised proposals for executive remuneration reform, discussed in our earlier post. One week later it issued further details on its proposals, including drafts of the statutory provisions. The reforms will apply to UK … Continue reading
Filed under Jurisdiction: UK, Remuneration
Employment law reform: equal pay audits
The government has announced that it is going ahead with its earlier proposal to give employment tribunals power to order pay audits where an employer is found guilty of gender discrimination in relation to contractual or non-contractual pay matters. Tribunals … Continue reading