At MM&K we continue to see a number of pressure points that Boards are grappling with when seeking to execute against their business strategy: Institutional investors are demonstrating increased appetite for significant returns; Remuneration Committees are suddenly finding themselves dealing with ever-greater below-Board compensation issues; Executives are still pushing the envelope in terms of Total…

October 17, 2023 Read more >

In a recent case, Ponticelli Ltd v Gallagher [2023] CSIH 32, the Court of Sessions held that an employee’s right to participate in a SIP transferred to the new employer under Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) and the transferee employer must provide a scheme of substantial equivalence for the employee to…

October 17, 2023 Read more >

The introduction of fixed term parliaments means that we know there will be a General Election next year (with the signs that the current government will wait as long as possible to call the election, hoping for inflation to be back down towards the desired 2% levels). While one can never be sure that statements…

October 17, 2023 Read more >

FRC consultation on proposed revisions to the UK Corporate Governance Code (‘the Code’) closed on 13 September. MM&K has taken the opportunity to submit responses to the 26 consultation questions. The last revision to the Code was in 2018. This latest consultation follows a raft of laws and regulations, much of it to do with…

September 14, 2023 Read more >

On 27 July 2023, the International Sustainability Standards Board (ISSB) published the IFRS Sustainability Disclosure Taxonomy for public comment. This consultation follows the publication of the first two sustainability disclosure standards (ISSB Standards) in June 2023, namely, IFRS S1 and IFRS S2. The IFRS Sustainability Disclosure Taxonomy document proposes a common digital taxonomy for making…

September 14, 2023 Read more >

Performance management is a process used by companies to plan, monitor, develop and evaluate the performance of their employees, teams or organisation as a whole. It is essential for enhancing employee performance and helping in the achievement of company objectives. Despite the significance of performance management, many employees see it as a waste of time…

September 14, 2023 Read more >

A non-compete clause is a clause in your employment contract that precludes you from joining a competitor or setting up a business that would compete with your employer’s (or ex-employer’s). However, no matter what is stated in your employment contract, a non-compete clause must be reasonable and only applies in cases when there is a…

July 27, 2023 Read more >

The cost-of-living crisis has been a major challenge for businesses in the UK. Rising inflation is making it harder for employees to make ends meet, and this is leading to increased turnover, with many calling it the ‘great resignation’ period. In order to retain and attract key talent, employers have had to take different approaches…

July 27, 2023 Read more >

Recently, the Financial Reporting Council (“FRC”) published a consultation paper asking for detailed responses as to how the UK Corporate Governance Code (“the Code”) could be updated to become part of a wider framework of measures that will improve accountability, build trust and support investment and stewardship decisions in the UK. Although the main driver…

July 26, 2023 Read more >

Further to its announcement in April this year, on Tuesday 18 July 2023, the Government launched its consultation, seeking views, mainly from individuals, trustees and tax practitioners on proposals for reforms on targeted taxation aspects of Employee Ownership Trusts (EOTs) and Employee Benefit Trusts (EBTs). Further details can be found here. By way of an…

July 26, 2023 Read more >

We were delighted to have been invited by the London Stock Exchange to join the panel for a webinar on 15 June, on the impact of an IPO on remuneration and governance. Last year, there were 45 IPOs in the UK; 33 on the main market (a fall of about 43% from 2021) and 12…

June 21, 2023 Read more >

The most recent ONS figures cite over one million job vacancies in the UK. These are amongst the highest since records began 22 years ago, following a peak in April 2023, still 200,000 more than the pre-pandemic peak. This is alongside an unemployment rate of 3.9%, amongst the lowest figures since the ‘70s. It seems…

June 20, 2023 Read more >