The following Share Incentives guidance note provides comprehensive and up to date legal information covering:
This Practice Note compares the main remuneration principles contained in the:
UK Corporate Governance Code (the Code) published by the Financial Reporting Council (FRC)
the Investment Association (IA) Principles of Remuneration
the Corporate Governance Policy and Voting Guidelines published by the Pensions and Lifetime Savings Association (PLSA) (formerly known as the National Association of Pension Funds (NAPF))
the UK Shareowner Voting Guidelines published by the Pensions & Investment Research Consultants Ltd (PIRC)
the Proxy Paper Guidelines for the UK published by Glass Lewis, and
the UK and Ireland Proxy Voting Guidelines published by the Institutional Shareholder Services (ISS)
The FRC is responsible for corporate governance in the UK, and as such has responsibility to publish and maintain a single code of good corporate governance practice. This is now known as the Code (formerly known as the Combined Code).
The latest version of the Code is dated July 2018, and is intended to apply for accounting periods beginning on or after 1 January 2019. The April 2016 Code applies to accounting periods prior to this date. The 2018 Code has been substantially recast, shortened and simplified from its previous versions. The provisions relating to remuneration are now more logically presented in a single section of the 2018 Code (section 5), with its
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