Thu 04 Jul 2019

New Legislation, Guidance & Consultations - July 2019

We look at recently published legislation, consultations and guidance for employers, employees, HR professionals and others.

Although it has been fairly quiet recently, the Companies (Directors' Remuneration Policy and Directors' Remuneration Report) Regulations 2019 came into force on 10 June.  The Regulations implement amendments to the Shareholders Rights Directive II introducing a number of provisions intended to strengthen the governance and performance of traded companies.  Changes include a requirement to report remuneration of CEOs and deputy CEOs even when they are not a company director (prior to the Regulations being implemented only the remuneration of directors and shadow directors required to be reported). In addition, there is a requirement that, if an amendment is needed to company remuneration policy to facilitate a remuneration or loss of office payment being made to a director, then, to be effective, the amendment must first be approved by shareholders.

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