In the June 2013 edition of this publication, we reported on:

  • the Enterprise and Regulatory Reform Act 2013 which introduces the new, much-publicised, regime relating to the remuneration of directors of quoted companies. The changes, which give shareholders a binding vote on executive pay, will apply to the first directors’ remuneration report to be published during the company’s first financial year beginning on or after 1 October 2013. Among other things, the changes introduce a new-look directors’ remuneration report which must include a new, separate, section with details of the company’s forward-looking remuneration policy; and
  • the draft regulations published by the Government in June 2013, The Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013 (‘the Regulations’), with details of the proposed new form and content of the directors’ remuneration report.

The final version of the Regulations has now been published (on 12 August 2013) and remains in the same form as the draft of June 2013. For more details on the new-look directors’ remuneration report, please see the June 2013 edition of this publication and our report on the draft Regulations.

The Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013 (S! 2013/1981) available at:

http://www.legislation.gov.uk/uksi/2013/1981/pdfs/uksi_20131981_en.pdf