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UK: Executive remuneration – Government announcement 20 June 2012
Business Secretary Vince Cable has today announced the Government's plans in relation to its executive remuneration reform proposals, including its …
UK: Executive remuneration – Enterprise and Regulatory Reform Bill presented to Parliament
The Enterprise and Regulatory Reform Bill, which will be used to introduce a binding shareholder vote on executive remuneration, has been …
UK: Banker's bonuses - ex-Dresdner bankers secure bonus victory based on oral promise at staff meeting
Financial institutions are well aware of the need for bonus schemes to be drafted very carefully to ensure discretions are not fettered …
UK: Legislative proposals
Call for evidence on dismissal process BIS has issued a call for evidence seeking views on (i) whether the Acas Code of Practice on Discipline …
UK: Executive remuneration – the proposals for shareholder votes
The Government (BIS) has published a consultation paper on its proposals to increase shareholder voting rights in relation to executive …
Spain: II Agreement on Employment and Collective Bargaining 2012, 2013 and 2014
In the context of the profound reform that is being undertaken in the Spanish labour market, one of the most significant changes expected affects the …
UK: Executive remuneration - Government outlines proposals
The Government has given its outline response to its consultation on executive remuneration published in September last year (see our Herbert Smith …
UK: Is clawback the new market standard?
"The inclusion of clawback and malus provisions in scheme designs and executive contracts is a recognised way to prevent executives receiving rewards …
UK: Completion of Remuneration Policy Statement – final reminder!
If you are a Tier 2, 3 or 4 firm, there is now less than one month to go to complete your Remuneration Policy Statement (RPS) as required by the FSA …
VAT and salary sacrifice: revised HMRC approach from January 2012
HMRC has stated that, from 1 January 2012, employers must account for output tax on the supply of VAT able benefits provided under salary sacrifice …
UK: Dismissal and re-engagement on new terms - no need to repeat inducement offered to agree new terms
Employers seeking to reduce pay by consent may choose to offer a one-off payment as compensation for the reduction and in return for avoiding the risk of …
UK: National minimum wage rates
The national minimum wage changes from 1 October. The hourly rate increases to £6.08 for workers aged 21 and over, £4.98 for workers aged 18-20, …
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