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 >

“Does making the rich poorer make the poor richer?” – a new concept or just a misuse of Sir Winston Churchill’s quote “You don’t make the poor richer by making the rich poorer”. This month, the High Pay Centre (HPC) held an event to talk about pay and the increasing gap in incomes between those…

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 >

Remuneration Planning for Management Succession On 18 November, MM&K hosted the latest in its series of Remuneration Dinners. The guests on the evening included Company Chairs, Remuneration Committee Chairs / Members and CEOs. The discussion topic for this event was Remuneration Planning for Management Succession. The topic was introduced by MM&K’s CEO Paul Norris who…

November 19, 2019 Read more >

Towards the wider use of deferred share plans Study by the “Purposeful Company” The Purposeful Company is an independent voluntary think tank set up in 2015 with the support of the Bank of England to help transform British Business by identifying with like-minded companies changes to policy and practice aimed at creating long-term value. The…

November 19, 2019 Read more >

Issues which are of most concern to investors and how they are dealing with them MM&K is the UK member firm of the Global Governance and Executive Compensation Group (GECN), a consortium of independent advisory firms specialising in executive compensation and corporate governance and jointly serving clients in more than 30 countries. As investors are…

September 27, 2019 Read more >

Updates to the GC100 Directors’ Reporting Guidance for 2019 The GC100 is an industry group for general counsels and company secretaries working in FTSE 100 companies. As part of their work, they produce the “GC100 Directors’ Remuneration Reporting Guidance”. The Guidance is a useful tool for anyone in a mid-sized or large listed company who…

August 28, 2019 Read more >

Government response to BEIS Select Committee The Business, Energy and Industrial Strategy Committee of the House of Commons (the BEIS Select Committee) published on 26 March a further report on Executive Rewards.  It contained 16 recommendations to Government. The Government’s response to the report (HC2306) was published on 13 June The Select Committee comprises six…

July 29, 2019 Read more >

Loans from EBT – recent HMRC developments on disguised remuneration schemes Disguised remuneration schemes include tax avoidance arrangements that seek to avoid Income Tax and National Insurance contributions (NICs) by paying scheme users their income in the form of loans. Typically, the loans will have come from a “third party” such as an Employee Benefit…

July 20, 2019 Read more >

All change at the FRC – or is it? The Financial Reporting Council (FRC) is embarking on a transition programme to morph into the Audit, Reporting and Governance Authority (“ARGA”) accountable to Parliament, after coming under heavy fire from the Kingman Review and others, including a report by the Competition and Markets Authority (CMA) on…

July 19, 2019 Read more >