The roller-coaster that was 2020:  The FTSE100 index entered 2020 at 7,542.40.  By the start of the first lockdown in March, it had dropped to 4,993.90, a fall of nearly 34%.  At the time of writing, the FTSE has risen to 6,572.18, up nearly 32% but still almost 13% below where it was at the…

December 22, 2020 Read more >

In this article, we review a recent report published by the QCA in conjunction with Henley Business School entitled “ESG in Small and Medium-sized Quoted Companies: Perceptions, Myths and Realities”. ESG (which to remind readers stands for “Environmental, Social and Governance”) has received huge coverage recently, which may have worn the patience of many readers…

November 27, 2020 Read more >

Every year the GECN Group conducts research into global trends in Corporate Governance. The GECN Group comprises five independent advisory firms specialising in executive remuneration and corporate governance www.gecn.com. GECN Group companies have offices in Los Angeles, New York, London, Kyiv, Geneva, Zurich, Singapore, Melbourne and Sydney. MM&K is the GECN Group company in the…

September 28, 2020 Read more >

Companies have a responsibility to consider the impact of their activities on the environment and society and to operate within a robust corporate governance framework. There is no question about that. ESG is fast becoming ingrained, if it is not already established, in corporate strategy, culture and operations. It is clear, however, that ESG means…

September 28, 2020 Read more >

CEO Pay Ratio reporting: introduction, implementation and predicted impact The “CEO pay ratio” has become a hot topic after the introduction of new legislation demanding UK incorporated companies listed on the FTSE, NYSE and NASDAQ with over 250 employees to disclose in their directors’ remuneration reports the ratio of their CEO’s total pay to the…

February 28, 2020 Read more >

Taking a listed company private – implications for executive pay and governance More and more companies are shunning listed status. Recent research has shown that the number of take private deals in 2019 was 40% higher than in 2018. Aggregate deal value increased from £9.9bn to £21.1bn. Whilst the big deals grabbed the headlines (Advent’s…

February 28, 2020 Read more >

Revised Stewardship Code sharpens the focus on ESG factors The UK Stewardship Code forms part of the FRC’s mission to promote transparency and integrity in business. The 2020 version of the Code was published by the FRC earlier this month. Under the Code, it is incumbent on asset owners and asset managers to disclose how…

January 30, 2020 Read more >

The FRC’s annual review of reporting, following 2018 changes to the UK Corporate Governance Code shows the quality of reporting has been mixed. In this article we analyse key elements of the FRC review The 2018 UK Corporate Governance Code that applies to accounting periods beginning on or after 1 January 2019, is designed to…

January 28, 2020 Read more >

What insights into effective business practices are coming out of the QCA review of Good Governance on AIM? MM&K are members of the Quoted Companies Alliance (“QCA”) and sit on both the Corporate Governance and Share Schemes experts group.  Here are four insights coming out of the recently published AIM Good Governance Review. 1) There…

January 23, 2020 Read more >

With the majority of parties now having published their manifestos, what clues do they contain as to the future direction of corporate governance and executive pay in the UK? This article is strictly apolitical – as countless polls have shown, it is impossible to predict how an election will be decided. However, irrespective of who…

November 25, 2019 Read more >

Revised and Strengthened UK Stewardship Code sets new world-leading benchmark Nigel Mills summarises some of the changes in the new Code and the impact it will have. One key change is that signatories now have to explain their Stewardship approach in their alternative investments such as PE and Infrastructure. The Financial Reporting Council (the FRC) launched…

November 25, 2019 Read more >

No matter whether you are a listed company or a private company, the most recent remuneration guidelines from the Investment Association are likely to affect your business in the future To paraphrase an old saying, “when the FTSE sneezes, the rest of the market catches a cold”.  Whilst the recent publication of the Investment Association’s…

November 20, 2019 Read more >