Archives: Executive Compensation (UK)

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New UK Directors’ Remuneration Reporting Regime

In the wake of the financial crisis and the so-called ‘shareholder-spring’ of 2012 (a period during which many shareholders refused to endorse directors’ remuneration policies), the government has introduced new rules on directors’ remuneration reporting. The new rules: (i) increase the compliance burdens regarding the reporting of directors’ remuneration policies; (ii) increase shareholder control over … Continue Reading

Why Is a Benefits Lawyer Talking about Trade Secret Theft?

At a recent forum in New York, a team of Covington & Burling LLP lawyers addressed the growing concern among companies that their most valuable assets might just walk out the front door on a thumb drive in an employee’s pocket or otherwise be taken by company insiders.  Although much of the discussion in this … Continue Reading

Forfeiture of Incentive Pay for Violation of Employment Agreement Is Not an Unlawful Penalty, Says UK High Court

The UK High Court recently confirmed that incentive pay may be conditioned upon good behavior.  In Imam-Sadeque v BlueBay Asset Management (Services) Ltd [2012] EWHC 3511 (QB), the court concluded that forfeiting incentive pay for bad behavior does not constitute an unlawful penalty.  In that case, an employee and employer had entered into a release … Continue Reading

UK Financial Services Authority Proposes Collecting Benchmarking and High Earners Reports from Regulated Entities

In August, the U.K. Financial Services Authority (“FSA”) issued a proposal to implement the requirement in the 2010 Capital Requirements Directive (“CRD III”) that competent local authorities collect information concerning the pay practices of relevant financial services firms.  CRD III requires local authorities to transmit this information to the European Banking Authority (“EBA”) to enable … Continue Reading
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