Australia: remuneration disclosure - ASIC survey and Government proposals

The Australian Securities and Investments Commission has published the results of its recent survey of remuneration disclosure by 50 ASX300 companies: see here. ASIC has called for improvements in disclosure, especially with regard to the reasons why particular remuneration arrangements have been adopted. The publication of ASIC's research follows the publication earlier this month by the Australian Government of legislative proposals to increase listed companies' disclosure of remuneration matters including the clawing back of bonuses and golden handshakes. The Government's announcement, available here, also outlines its response to the recommendations made by the Corporations and Markets Advisory Committee last year in a report on executive remuneration (available here, pdf).