Welcome to our Employee Incentives Update, we hope you find it useful. This Update contains a round-up of key developments in remuneration during May 2017.
- With the General Election looming, we round up the manifesto promises of the three main parties affecting employment, employee incentives and immigration law.
- Amendments to the Shareholder Rights Directive come into force on 9 June 2017.
Our summary of the three main political parties' manifesto pledges on employment, employee incentives and immigration can be found here.
Amendments to the Shareholder Rights Directive
Amendments to the Shareholder Rights Directive come into force on 9 June 2017 with member states having until 10 June 2019 to transpose the new provisions into national law. The Directive only affects companies whose shares are traded on a regulated market.
It is worth noting that the UK is considerably ahead of the game compared to many of its European neighbours and the UK legislation and regulations governing directors' remuneration (particularly that around the requirement for a binding vote on the directors' remuneration policy to be held at least every three years) already comply with the remuneration requirements under the amended Directive. Therefore, most companies listed on the London Stock Exchange are unlikely to be affected by these changes.
Jonathan Fletcher Rogers