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On 8th November this year, a (cross party supported) Private Members’ Bill was introduced into Parliament with the aim of updating two of the current share ownership schemes (the share incentive plan, known as SIP, and the save-as-you-earn system, known as SAYE or Sharesave) —and proposes a third scheme. As is the nature of these…

November 22, 2022 Read more >

Corporate governance can seem like a daunting task for any organization to undertake. Some organizations do it because they fall within specific codes, others consider doing it, but the thought and the process overwhelms them to a point of choosing to do the bare minimum, or nothing at all. It is important for companies to…

November 22, 2022 Read more >

Last month, we restarted our series of remuneration dinners for Board Chairs, CEOs, Remuneration Committee Chairs and committee members. The format is that about twenty diners participate in what is usually a spirited discussion on a topical remuneration-related theme. This occasion was no exception. The theme for the evening was provided by the Government’s proposed…

November 22, 2022 Read more >

We would like to thank all 114 participating firms from across the United States and Canada for providing information on over 4,200 incumbents, employed in 46 different positions, ranging from analyst to managing general partner on the investment side and from receptionist to chief operating officer on the administrative side. The 2022 Report contains a…

November 22, 2022 Read more >

MM&K (the UK partner firm in the GECN group) is soon to publish its 2022/23 research on how the world’s largest firms use ESG (environmental, social, governance) metrics in their executive incentive plans. Pre-order your free copy here. Environmental metrics appear to have truly flourished across the world this year. All regions reported an increase,…

November 22, 2022 Read more >

HMRC has recently updated their guidance in the HMRC manuals at ETASSUM54300 on their views about what would and would not constitute acceptable exercise of discretion in the context of EMI Options. Background Paragraph 37 of Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 provides that the terms of any EMI Option…

November 22, 2022 Read more >

We are delighted to announce that we about to publish our latest MM&K PE/VC Compensation Report which sets out our findings from our 2022 survey of the UK and European private equity, venture capital, infrastructure and real estate fund management industries. The survey covers both short-term and long-term aspects of pay and incentive practice in…

October 12, 2022 Read more >

The FRC (soon to become ARGA) is about to review the provisions of the UK Corporate Governance Code, which is applicable to companies having a premium listing on the London Stock Exchange. An informal consultation process, which will include organisations like the QCA, is scheduled to commence at the end of this month. This will…

October 12, 2022 Read more >

On 23rd September 2022, the UK government announced its mini budget unveiling tax cuts in an attempt to encourage growth during the cost-of-living crisis. By 26th September, the pound had fallen to its lowest ever exchange rate against the US dollar at £1 to $1.04. Aside from the immediate effects that this will have on…

October 12, 2022 Read more >

The Growth Plan 2022 announced by the Chancellor of the Exchequer includes some changes to the employee share schemes, a summary of which is set out below. Company Share Option Plan (CSOP) Perhaps the most significant change announced in the Growth Plan 2022 affects CSOPs. In particular, the individual limit is being increased from £30,000…

October 12, 2022 Read more >

MM&K’s Paul Norris was interviewed by Katya Gorbatiouk for London Stock Exchange’s Market Matters to discuss the current state of director and executive remuneration and how it is might evolve in the future. The interview covered a wide range of topics and includes insights on current challenges for remuneration committees, ESG, the impact of policies…

October 12, 2022 Watch the interview >

ESG is a growing characteristic of executive remuneration plans, with 58% of FTSE 100 companies including these metrics in their reward packages – up from 45% in 2020. According to a 2021 PwC Survey amongst Corporate Directors, 94% support the inclusion of non-financial targets in executive compensation plans. But aside from this, why should companies…

September 15, 2022 Read more >

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