Despite recent pushes from some of the leaders of the world’s biggest corporations and institutions to “get people back into the office”, there still seems to be firm resistance to a complete return.  And this is not just a “generational” issue. Many senior individuals, who have had years of working in offices and know the…

November 20, 2023 Read more >

The Supreme Court has recently published its decision in HMRC v Vermilion Holdings Limtied [2023] UKSC 37 providing clarity on what constitutes ‘employment related’ securities (ERS) options (and accordingly, ‘employment related’ securities) and the scope of the deeming provisions, for the purposes of the employment related securities legislation. Facts In 2006, Mr Noble, a consultant,…

November 16, 2023 Read more >

At MM&K we continue to see a number of pressure points that Boards are grappling with when seeking to execute against their business strategy: Institutional investors are demonstrating increased appetite for significant returns; Remuneration Committees are suddenly finding themselves dealing with ever-greater below-Board compensation issues; Executives are still pushing the envelope in terms of Total…

October 17, 2023 Read more >

People tend to earn more as they get older. In this article we explore how long and fast this occurs, does it stop, and why? We looked at 2023 ONS data on the wages earned by different age groups. Looking at median earnings, we see that earnings grow until ages 40-49. The graph below details…

October 17, 2023 Read more >

Over 100 fund managers participated in the 2023 Holt-MM&K Private Equity and Venture Capital Compensation Survey for North America, providing data on over 3,500 incumbents. The 2023 Report covers 53 different investment and non-investment roles. In the North American Report participating firms are classified by type of investment strategy and committed capital to all active…

October 17, 2023 Read more >

The Pay Transparency Directive is legislation adopted by the European Parliament in May 2023. The Directive aims to tackle the gender pay gap by requiring employers to publish information about their pay practices. This information will include the average pay for men and for women, as well as the pay gap between them. It will…

October 17, 2023 Read more >

In a recent case, Ponticelli Ltd v Gallagher [2023] CSIH 32, the Court of Sessions held that an employee’s right to participate in a SIP transferred to the new employer under Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) and the transferee employer must provide a scheme of substantial equivalence for the employee to…

October 17, 2023 Read more >

The introduction of fixed term parliaments means that we know there will be a General Election next year (with the signs that the current government will wait as long as possible to call the election, hoping for inflation to be back down towards the desired 2% levels). While one can never be sure that statements…

October 17, 2023 Read more >

FRC consultation on proposed revisions to the UK Corporate Governance Code (‘the Code’) closed on 13 September. MM&K has taken the opportunity to submit responses to the 26 consultation questions. The last revision to the Code was in 2018. This latest consultation follows a raft of laws and regulations, much of it to do with…

September 14, 2023 Read more >

Over the years MM&K has built up a huge amount of knowledge and experience of advising firms in the Private Equity and Venture Capital arena. This year will be the 28th consecutive year that we have conducted our market-leading pay survey of pay levels and structures in the UK and European Private Equity sector. 2023…

September 14, 2023 Read more >

Job vacancies maintain their historical highs and the inflation crisis ensnares both employers and employees. Thus, one of the many questions raised is just how long are employees staying in their jobs? We researched the LinkedIn pages of 772 London Stock Exchange firms for the median tenures of their staff. Our results suggest that the…

September 14, 2023 Read more >

On 27 July 2023, the International Sustainability Standards Board (ISSB) published the IFRS Sustainability Disclosure Taxonomy for public comment. This consultation follows the publication of the first two sustainability disclosure standards (ISSB Standards) in June 2023, namely, IFRS S1 and IFRS S2. The IFRS Sustainability Disclosure Taxonomy document proposes a common digital taxonomy for making…

September 14, 2023 Read more >