In July, the Financial Conduct Authority (FCA) published its policy statement PS21/09 in relation to the implementation of the new Investment Firms Prudential Regime (IFPR) which becomes effective from 1 January 2022. PS21/09 is the second in the series of policy statements that summarises the feedback that the FCA has received in respect of their…

August 10, 2021 Read more >

On Thursday 24th June, Paul Norris, CEO of MM&K, participated in a webinar – “An international perspective on D&I from the GECN Group”.  The webinar asked (and answered) the question, “what should the Compensation Committee’s role be in creating a diverse and inclusive culture?” The GECN (Global Governance and Executive Compensation Group), of which MM&K…

July 15, 2021 Read more >

MM&K has been producing this unique survey for over 26 years. This year we are seeing more NEDs and Chairs enquire on how to participate to obtain their free copy of the report. Whether this is a result of the post-pandemic strategic challenges boards will face, what we do know is this comprehensive report is…

July 8, 2021 Read more >

On May 28, 2021, the Biden administration released its fiscal year 2022 budget proposals, which include two major legislative plans previously released by the administration, the American Jobs Plan (focused on corporate tax reform) and the American Families Plan (focused on individual tax reform). On the same day, the Treasury Department released its highly anticipated…

July 8, 2021 Read more >

The first report of the Office of Tax Simplification (“OTS”) when it was published in November 2020 caused headlines with its recommendations around increasing the rate of Capital Gains Tax (“CGT”).  Unsurprisingly, this caused press headlines and a strong response from the business community. In contrast, the publication of their second report into CGT has…

July 5, 2021 Read more >

The Financial Conduct Authority (FCA) is in the process of introducing the new Investment Fund Prudential Regime (IFPR), a single streamlined and simplified prudential regime for FCA authorised MiFID investment firms from 1 January 2022. The IFPR will be greatly aligned with the EU Investment Firms Regulations ((EU) 2019/2033) and the Investment Firms Directive ((EU)…

July 5, 2021 Read more >

MM&K’s Life in the Boardroom report is based on a unique survey sent out to Non-Executive Directors themselves in order to gather insights into their individual thoughts on boardroom policies and practice. Our survey represents the views of Non-Executive Directors working in a variety of industries and settings, including Financial Services, Technology, Energy, Media and…

June 3, 2021 Read more >

In March this year HM Treasury issued a Call for Evidence on the effectiveness of Enterprise Management Incentives (EMIs) in fulfilling the Government’s policy objectives of helping Small and Medium Enterprises (SMEs) recruit and retain employees. The Government’s objective for this call for evidence was to gather more evidence to understand whether the EMI scheme…

June 2, 2021 Read more >

The 2021 – 2022 MM&K / GECN Group research is focused on the role of ESG factors in global executive remuneration and is a continuation to the “2021 and Beyond: Global Executive Incentive Trends The Shift to Non-Financial Measures” Report. The 2021 and Beyond Report identified  global trends on the inclusion of ESG factors in…

June 2, 2021 Read more >

The 2021 AGM season has been notable for a spate of high-profile challenges to executive remuneration policies. Proxy advisers and institutional shareholders have shown scant regard for status, size or, in some cases, performance. Astra Zeneca received no Government furlough cash, yet made bonus awards and proposed increases to LTI vesting multiples. Shareholders registered a…

June 2, 2021 Read more >

The UK Corporate Governance Code (“the Code”) was updated in 2018, but as with all reforms of this nature, the effects could not be measured until a full cycle of disclosure had occurred.  In the last couple of weeks, the FRC have published a report (“the Report”) providing a review of how these changes have…

June 1, 2021 Read more >

Earlier this year, the High Court in the matter of Euro Accessories Ltd [2021] EWHC 47 (Ch) held that a discount should be applied in determining the value of a minority shareholding that is subject to compulsory purchase at “fair value”. In this case, the petitioner held 24.99% of the issued share capital of the…

June 1, 2021 Read more >