16 December 2014
The latest changes to the Corporate Governance Code include new remuneration provisions
In September 2014, a revised UK Corporate Governance Code was issued following a period of consultation. The latest changes affect the remuneration of directors and how companies manage and report on risk. They also encourage a longer-term view of a company’s prospects. The changes take effect for accounting periods beginning on or after 1 October 2014.
A more robust stance has been taken on clawback. The code now states: ‘Schemes [of performance related remuneration] ...