Directors’ pay: full disclosure

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By Kelly Prestidge

The final pieces of the government’s jigsaw of reforms on directors’ pay have been slotted into place.

The provisions of the Enterprise and Regulatory Reform Act 2013, along with the Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013, came into force on 1 October 2013.

Quoted companies (essentially companies registered in the UK with equity listed on the main market in the UK, in another state in the EEA, on the New York Stock Exchange or on NASDAQ) will now need to seek shareholder approval for their remuneration policies and will be required to produce more detailed information on directors’ pay in their remuneration reports. The new requirements do not apply to AIM-listed companies…

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