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Introduction Malus and clawback provisions in incentive plans were originally introduced for financial institutions, mainly in response to the financial crash in 2008.  However, they have now become common for LTIPs and executive bonuses in all sectors.  They originally applied in very limited circumstances, such as misstatement of financial results or gross misconduct by the…

June 20, 2019 Read more >

Top Dogs and Fat Cats This new book from the Institute of Economic Affairs was published on 8 May 2019. It is a collection of essays on executive pay, providing fascinating insights into the nature of high pay and making a compelling contribution to one of today’s most contentious issues. The book is edited by…

May 29, 2019 Read more >

The effect on NEDs of proposed reforms to IR35 Some non-executive directors (NEDs) also provide consulting services to the companies on whose boards they sit and to others. How will the proposed changes to IR35 affect the provision of those consulting services? HMRC published a consultation paper Off-payroll working rules from April 2020 on 5 …

May 29, 2019 Read more >

Creating successful bonus structures – five things to think about Whether you think in these terms or not, the way a company sets up, manages and then settles its bonus plans will have a direct impact on the behaviour of people within the organisation. Here are five thinking points in respect of creating successful bonus…

May 29, 2019 Read more >

MM&K hosted its annual golf day on 21st May again at Hankley Common Golf Club in Surrey. We were pleased to have 22 clients and friends of MM&K come and join us to play a well contested four ball competition in the morning. Some hardy souls managed to play more golf in the afternoon after…

May 22, 2019 Read more >

Gender Pay Gap – three things for businesses of any size to consider Legally, the reporting of the Gender Pay Gap (“GPG”) is only required by companies that have 250 or more employees who are based in England, Scotland or Wales. However, there are some important lessons for all organisations in respect of remuneration and the issue…

April 23, 2019 Read more >

New Directors’ Remuneration Reporting Regulations On 10 April 2019, the Government laid before Parliament a new set of revisions to the Directors’ Remuneration Reporting Regulations (DRRR or “Schedule8”). After the wholesale revision to the DRRR in 2013, the regulations remained pretty much unchanged until July, 2018. The 2018 Companies (Miscellaneous Reporting) Regulations then introduced a…

April 17, 2019 Read more >

Pending changes to Directors’ Remuneration Report Regulations On 3 March the European Commission issued new guidelines on the standard presentation of the remuneration report under Directive 2007/36/EC. This was to comply with a mandate presented in Article 9(b)6 of the 2017 revisions to the second Shareholder Rights Directive (SRD II)[1]. The guidelines are non-binding and…

March 28, 2019 Read more >

Executive pensions – do you know your limits? In the past, pension benefits used to form a substantial proportion of top executives’ total remuneration.  This was not just because their entitlements were based on higher salary levels than employees generally but also because these executives had more generous percentage employer contributions or accrual rates.  Moreover,…

March 22, 2019 Read more >

Whether you are a well-established organisation or still in early stages, it is important to make sure that the long term elements of your executive and key personnel remuneration are working properly for your business. Whilst establishing whether or not this is the case will take some time and discussion, it is important for anyone…

February 27, 2019 Read more >

Labour Party policy input on executive remuneration In November 2018, John McDonnell, Shadow Chancellor, published a review he had commissioned from a group of 13 academics into the thorny subject of executive pay.  The review is described as “independent” but the intellectual allegiance of the contributors is evident in the title: “Controlling Executive Remuneration: Securing…

February 26, 2019 Read more >

Please click here to read an overview of the evening in which the theme for discussion was: “Could Remuneration Committees take a more active approach to gaining the high ground on executive pay?

February 26, 2019 Read more >

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