News & Analysis as of

Remuneration

Luxembourg: CSSF Circular 17/658 - Compliance with the European Banking Authority’s Guidelines on Sound Remuneration Policies

by Dentons on

On 16 June 2017, the Luxembourg Financial Regulator (Commission de Surveillance du Secteur Financier – CSSF) issued Circular 17/658 addressed to credit institutions and CRR investment firms on the compliance with the European...more

Mortgage Broker Remuneration Reforms – What You Need to Know

by K&L Gates LLP on

Concerns have been raised by the Australian Government in recent times in relation to the effect of current remuneration structures in the mortgage broking market on the quality of consumer outcomes. During 2016, the...more

Regulation Round Up - May 2017

by Proskauer Rose LLP on

2 May - The FCA published its Policy Statement on the FCA's disclosure rules following application of PRIIPs Regulation (PS17/6). The Policy Statement sets out how the FCA's disclosure requirements will change to reflect...more

What Do You Do When You're Paying Your Employees Too Much?

by K&L Gates LLP on

What does an employer do when it decides that it cannot afford to continue to employ an employee at his or her current remuneration? A recent case of the Fair Work Commission has determined that these circumstances do not...more

Implementation Decree for the Say-on-Pay Provisions of the Loi Sapin II Adopted

by Jones Day on

Adopted on 8 November 2016, the Sapin II Act (Loi Sapin II) introduced a compulsory ex ante vote on remuneration policy and an ex post vote on the amount of remuneration received in accordance with the policy passed the...more

Shareholder Rights Directive: Parliament Resolution at First Reading to Adopt Directive

by Jones Day on

On 14 March 2017, the European Parliament resolved to adopt the Commission's proposal to amend the Shareholder Rights Directive. The amendments approved by Parliament include...more

Financial Conduct Authority Publishes Policy Statement on Remuneration in Capital Requirements Directive IV Firms

by Shearman & Sterling LLP on

The Financial Conduct Authority has published a Policy Statement containing final Handbook text and guidance on the requirements for remuneration policies that apply to firms subject to the Capital Requirements Directive IV....more

CMS Releases the Proposed Part D DIR Reporting Requirements for 2016

Yesterday, CMS released the Proposed Part D DIR (Direct and Indirect Remuneration) Reporting Requirements for 2016 and postponed the 2016 DIR Reporting deadline....more

Passed House AHCA Bill Contains Numerous Provisions Affecting Employers

by Holland & Knight LLP on

Holland & Knight originally issued this alert in March 2017 regarding the American Health Care Act (AHCA) as it stood on that date. This client alert provides an update on the AHCA as passed by the U.S. House of...more

Latest FCA rules and guidance: SMCR, remuneration and whistleblowing

by Dentons on

On 3 May the FCA published a series of policy statements tidying up aspects of the senior managers and certification regime (SMCR) for banks and insurers as well as finalising rules on remuneration and on whistleblowing in...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

BaFin Publishes Guidance on Transparency Standards for German Funds - On 4 April 2017, BaFin has published new transparency standards for funds after a BaFin investigation found that some active funds “closely” track...more

UK Prudential Regulation Authority Publishes Final Consolidated Guidance on Remuneration

by Shearman & Sterling LLP on

The Prudential Regulation Authority has published a Policy Statement and final consolidated Supervisory Statement on its expectations on remuneration. In the latter part of 2016, the PRA consulted on its proposed changes to...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

CSSF Press Release 17/06 Dated 13 February 2017 - The CSSF confirmed that it follows ESMA on its opinion in relation to the requirements for UCITS share classes....more

Ambulatory Surgery Center (ASC) Case Demonstrates Differential Value Theory of Remuneration

by Ruder Ware on

A relatively recent case involving buy-in terms in an ambulatory surgery center demonstrates how different valuations for referral sources and non-referral sources can be evidence of remuneration under the Medicare...more

Tax Round Up - April 2017

by Proskauer Rose LLP on

Welcome to the Tax Round Up, the first edition of what will be a regular bulletin highlighting the latest tax developments relevant to UK companies and asset managers. We plan to produce this monthly with the next one in...more

Destination Medicine: Not Just for the Rich and Famous

by BakerHostetler on

OIG okays providing modest hotel and meal accommodations for rural and financially needy patients. The U.S. Department of Health and Human Services Office of Inspector General (OIG) recently issued an advisory opinion...more

Tax and non-executive directors

by Hogan Lovells on

In the 2016 Budget Review, the Minister of Finance stated that in terms of the Income Tax Act 58 of 1962 (the ITA) and the Value-Added Tax Act 89 of 1991 (the VAT Act), a non-executive director’s (NED) fees may be subject to...more

Liquidators Remuneration – Time is an Idylic Solution

by K&L Gates LLP on

The New South Wales Supreme Court of Appeal's decision in Sanderson as Liquidator of Sakr Nominees has given cause for optimism amongst insolvency practitioners. The decision confirms that the correct approach was taken by...more

House ACA Bill Contains Numerous Provisions Affecting Employers

by Holland & Knight LLP on

The House Committee on Ways and Means and the House Energy and Commerce Committee released proposed legislation on March 6, 2017, to partially repeal and replace parts of the Affordable Care Act (ACA), which was signed into...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

BaFin publishes circular on regulatory requirements to the business organization of insurance companies (MaGo) - BaFin published a circular on regulatory requirements on 25 January 2017 for the business organization of...more

Blog: Commercial Court rejects assertion of arbitrator bias

by Cooley LLP on

In the recent decision in H v L, M, N and P [2017] EWHC 137 (Comm) in the Commercial Court, Mr Justice Popplewell addressed an attempt by the Claimant, H, to remove M, the third arbitrator in a arbitration between H and L, on...more

Preparing for the 2017 AGM and reporting season

by DLA Piper on

As the 2017 AGM and reporting season gets underway, we give an overview of the key changes affecting listed and AIM companies. Many listed companies will be putting a new remuneration policy to shareholders for approval in...more

Governance & Securities Law Focus: Europe Edition - January 2017

by Shearman & Sterling LLP on

In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. Please see full Newsletter below for more...more

New corporate governance requirements in Hong Kong

by Hogan Lovells on

New corporate governance standards for insurers authorised in Hong Kong came into effect on 1 January 2017. Hong Kong incorporated insurers and overseas insurers with a certain threshold of Hong Kong business must comply with...more

Changes to the Shareholder Rights Directive

by Dentons on

The representatives of the EU Council and EU Parliament have agreed the text of a new EU Directive to strengthen shareholder engagement and increase transparency in listed companies in the EU/EEA....more

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