Reform of directors' remuneration: revised draft regulations published *

United Kingdom - March 13 2013
A revised draft of the Directors' Remuneration Report Regulations has been circulated by BIS, inviting comments by 25 March 2013. This follows the…

Co-authors: Gareth Roberts, Jemima Coleman, Paul Ellerman, Carol Shutkever, Kathryn Cearns.

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Alternative Investment Fund Managers Directive: final guidance on remuneration provides some further clarity but leaves many questions unanswered *

United Kingdom - February 18 2013
The European Securities and Markets Authority ("ESMA") has published its final guidance to regulators on the remuneration provisions of the…

Co-authors: Tim West, Nigel Farr.

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Rethink on boardroom pay *

United Kingdom - February 11 2013
The National Association of Pension Funds and Hermes Equity Ownership Services have called for a major rethink on executive pay and it's alignment…

Co-authors: Matthew Emms, Paul Ellerman.

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Taxation of claw-backs: Tribunal allows an employee to use a repaid bonus to reduce his income tax liability; opportunity for companies to operate claw-back on a tax efficient basis *

United Kingdom - February 6 2013
The First Tier Tax Tribunal (Julian Martin v The Commissioners for HMRC [2013] UKFTT 040) has allowed an employee to set-off the amount of a bonus…

Co-authors: Bradley Richardson, Paul Ellerman.

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The £1.7 million lunch: requiring leavers under employee incentive plans to comply with restrictive covenants. *

United Kingdom - December 18 2012
A recent High Court case provides useful clarity that companies operating employee incentive plans should be able to link the exercise of a discretion to treat a departing participant as a "good leaver" to a condition that the participant has not breached their employment contract, or even that the participant complies with post-termination restrictive covenants.

Co-authors: Bradley Richardson, Peter Frost, Paul Ellerman.

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