Recent Developments in Executive Remuneration Policy and Disclosure
29 March 2012
This alert highlights the following recent developments in executive remuneration policy and disclosure:
- ASIC's warning on how remuneration reports should be improved
- ASIC's recommended protocol for policing voting exclusions at annual general meetings
- the Federal Government's proposals regarding the claw back of executive remuneration where financial statements have been misstated and the Government's proposals to tighten up disclosure of termination payments.
Directors of listed companies may wish to undertake a review of the disclosures in their remuneration reports and consider how they measure up against ASIC's latest guidance. We will monitor developments with respect to the Government's proposed claw back legislation and provide a further update when more information is available.