Wednesday, 2 October 2013

UK: FRC publishes directors' remuneration consultation paper

The Financial Reporting Council has published a consultation paper on the subject of directors' remuneration: see here (pdf). Whilst welcoming views in respect of any aspects of the UK Corporate Governance Code relating to remuneration that require reform, the consultation paper also seeks views on three specific topics: clawback arrangements, whether non-executive directors who are also executive directors in other companies should sit on the remuneration committee, and actions companies might take if they fail to obtain a substantial majority in support of a resolution on remuneration.

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