Providing a simple and fair approach for remuneration committees trying to meet the challenge of getting executive pay right is the aim of a board briefing paper recently published by the Institute of Business Ethics (IBE). The IBE said the paper, Fair or Unfair? Getting to grips with executive pay, offered both practical advice on how remuneration […]
Read MorePharmaceutical giant, GlaxoSmithKline (GSK), has been fined £37.6m by the UK’s Competition and Markets Authority (CMA)for making illegal payments to companies to delay their rival medicines entering the British market. Smaller fines were also imposed on the other pharmaceutical companies it paid. The CMA’s investigation found that GSK, the supplier of anti-depressant paroxetine it sold under the […]
Read MoreInvestment bank Morgan Stanley has agreed a $3.2 billion settlement with the New York Attorney General, Eric Schneiderman over the bank’s deceptive practices, in respect of residential mortgage-backed securities (RMBS ), leading up to the 2008 financial crisis. The investigation found that during 2006 the bank deceived investors about the quality of the mortgage loans it securitised and sold […]
Read MoreGlobal technology Google continues to be in the spotlight over its £130m tax deal with the UK authorities. The UK parliament’s Public Accounts Committee, which first looked into the issue of corporate tax deals in 2012, has held a session questioning both Matt Brittin, president of Google Europe, Middle East and Africa and Tom Hutchinson, VP Finance, Google […]
Read MoreEnsuring women get promoted to senior positions and receive higher bonuses should form part of the strategy to ensure that the gap between the pay of women and men is closed, according to a report produced by Deloitte and sponsored by “Think, Act, Report“, a UK government campaign. Following an extensive consultation last year the UK […]
Read MoreFollowing Manifest’s analysis of the extent of illegal dividends paid by UK listed companies [22-Jan-16] the Institute of Chartered Secretaries & Administrators (ICSA) the Financial Reporting Council have issued bulletins to remind companies of their legal responsibilities. Jennifer Walmsley, the FRC’s director of investor engagement, writing on Linked-In, drew attention to the Reporting Lab’s report “Disclosure […]
Read MoreThe US financial regulator, the Securities and Exchange Commission (SEC), has fined global agri-business firm Monsanto $80 million for violating accounting rules and misstating company earnings in relation to its flagship product Roundup. The company has also agreed to retain an independent compliance consultant in its settlement with the SEC. Three accounting and sales executives have also agreed […]
Read MoreSir Philip Hampton, chairman of GlaxoSmithKline has been appointed to increase the number of women executives – and to ensure some are appointed to board level – within FTSE 350 companies. Dame Helen Alexander, Chair of UBM, was appointed deputy chair to the review. The UK government said Sir Philip’s review will continue on from Lord Davies’s Women on […]
Read MoreAnalysis of the proxy voting at Russell 3000 company meetings last year found that 61 companies (2.8%) failed in achieving at least 50% support for their say on pay votes which have been compulsory in the US since 2011, according to pay consultants Semler Brossy. Looking at the number of companies that ‘failed’ their say on […]
Read MoreThe Rock Center for Corporate Governance at Stanford University has recently conducted a representative survey of 1,202 Americans to understand public perception of chief executive (CEO) pay levels among the 500 largest US publicly traded companies. The survey found that 74% believe CEOs are not the right amount compared with the pay of an average worker […]
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