Corporate weekly highlights—19 January 2017

Corporate weekly highlights—19 January 2017

Welcome to the weekly highlights from the Lexis®PSL Corporate team for the week ending 19 January 2017, which provide news updates and a comprehensive list of dates for your diary. This week’s edition features: the Pensions and Lifetime Savings Association’s (PLSA) updated edition of its Corporate Governance and Policy Voting Guidelines; ICSA: The Governance Institute and the Investment Association’s joint initiative to help boards take account of employee views; the draft Legislative Reform (Private Fund Limited Partnerships) Order 2017; the government’s call for evidence on limited partnerships; the Department for Business, Energy and Industrial Strategy’s (BEIS) research on audit exemption take-up; the government’s plans for dealing with directly applicable EU laws following Brexit; and case analysis of a High Court decision considering the right to rescind where all conditions have not been discharged.

Headlines (News updates & analysis)

Corporate governance

PLSA calls for more accountability over executive pay

The PLSA says pension funds are concerned by the pay gap between executives and ordinary workers, and has published an updated edition of its Corporate Governance Policy and Voting Guidelines, calling on investors to take a tougher stance on those who set executive pay policy.

The guidelines aim to promote the long-term success of the companies in which the PLSA’s members invest and ensure that the board and management of these companies are held accountable to shareholders, such as pension funds.

The new guidelines recommend that if shareholders vote against a company’s remuneration policy, they should also oppose the re-election of the remuneration committee chair as a company director.

Initiative will help boards take account of employee views

A joint project has been launched by ICSA: The Governance Institute and the Investment Association. It aims to help boards take account of employee and other stakeholder views when making decisions. The two bodies will publish practical guidance in the second quarter of 2017 to enhance understanding of the interests of key groups in accordance with board duties under the

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