05 November 2021
FAR moving forward: What’s new and what next?
The Financial Accountability Regime Bill 2021 ( FAR Bill ) was introduced in the House of Representatives on 28 October 2021. This legislation will replace and extend the Banking Executive Accountability Regime ( BEAR ) (which currently only applies to authorised deposit-taking institutions ( ADIs...
12 January 2021
Executive remuneration and accountability – the revised APRA CPS 511 Remuneration
On 12 November 2020, the Australian Prudential Regulation Authority ( APRA ) released a revised draft Prudential Standard CPS 511 Remuneration for consultation ( Revised Draft CPS 511 ). The revised standard has moved away from the prescriptive requirements of the initial consultation draft,...
07 July 2020
Governance: Key considerations for effectively managing remuneration arrangements during the pandemic (Australia)
One of the many issues companies are facing in light of the Covid-19 pandemic is how best to appropriately remunerate, incentivise and retain employee and executive talent as the pandemic continues to unfold. This article sets out five key issues for listed companies and their remuneration...
29 May 2020
HKMA publishes report on bank culture self-assessment
On 22 May 2020, the Hong Kong Monetary Authority ( HKMA ) published a report on its review of self-assessments on bank culture. This is part of the HKMA’s bank culture reform supervisory measures, where 30 authorised institutions ( AIs ) were selected in the initial phase to conduct self-...
12 March 2019
Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 2: Banks and credit institutions
After over two years of debate, agreement has finally been reached on the proposed directive amending the Capital Requirements Directive (which is generally being titled CRD5 ), and the European Council has published its final text. As detailed in our previous briefing ( Part 1 ), however, the...
11 March 2019
Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 1: Investment Firms
Agreement has now been reached between the European Parliament, the Commission and the Council on the final texts of two Directives which will impact on the remuneration provisions which apply to banks and investment firms. The first is the Investment Firms Directive ( IFD ), which will introduce a...
09 July 2018
Shareholder activism – new tactics, new players and a change in tone
Shareholder activism continues to grow in the UK as it does globally, both in terms of capital deployed and the publicity it attracts. While shareholder activism is not a new concept in the UK, the type of investors involved in activist campaigns, the companies that they are targeting, the tools...
01 May 2018
Lighter touch, or more of the same? MAS issues consultation paper on proposed guidelines on individual accountability and conduct
On 26 April 2018, the Monetary Authority of Singapore ( MAS ) issued a Consultation Paper on its proposed, and much-anticipated, senior manager accountability regime in the form of ‘Guidelines on Individual Accountability and Conduct’ ( Guidelines ). The Consultation Paper comes soon after the...
09 November 2017
Investment Association's updated guidance on executive remuneration
The Investment Association has published an updated Principles of Remuneration for 2018. The update will be of interest to all listed companies, who also need to keep an eye open for the upcoming revisions to the UK Corporate Governance Code, a consultation on which is expected later this month.
22 September 2017
IMPORTANT CHANGES TO RULES ON AGREED COLLECTIVE TERMINATIONS (rupture conventionnelle collective)
ORDONNANCE ON THE PREDICABILITY OF WORKING RELATIONS AND SECURING THESE WORKING RELATIONS This briefing summarises the Macron reforms in relation to the introduction of a new codified right to make collective terminations by agreement (outside of a social plan). This is a change from the current...
21 September 2017
'ORDONNANCE' ON THE PREDICABILITY OF WORKING RELATIONS AND SECURING THESE WORKING RELATIONS: IMPORTANT CHANGES TO RULES ON REDUNDANCIES
This briefing summarises the Macron reforms in relation to the simplification of redundancy processes: Limiting the economic difficulties test to the business sector in France exclusively Defining what is a business sector Reducing the redeployment obligations – limiting these to France For...
07 September 2017
THE LOI TRAVAIL – FUNDAMENTAL LABOUR LAW REFORMS IN FRANCE MOVING FRENCH LABOUR LAW TOWARDS THE REALITIES OF THE MODERN MARKET? - OVERVIEW OF THE KEY MEASURES
One of Emmanuel Macron's key campaign promises was the reform of laws relating to employees, in order to help French companies respond in a more flexible manner to the challenges they are facing and become more competitive in the global market.
07 September 2017
THE LOI TRAVAIL – FUNDAMENTAL LABOUR LAW REFORMS IN FRANCE MOVING FRENCH LABOUR LAW TOWARDS THE REALITIES OF THE MODERN MARKET? - CAPS ON TRIBUNAL DAMAGES
This is the first of our detailed briefings in relation to the Macron labour law reforms and will cover the subject of caps on tribunal damages.
04 July 2022
Unbundling Competition: Asia competition law podcasts
In this podcast, members of the Herbert Smith Freehills Competition, Regulation and Trade team examine key competition law and related regulatory developments. In each instalment, we update you on the latest developments across Asia, as well as those affecting Asian businesses around the world,...
30 June 2022
Asia-Pacific Competition Law Guide 2022
We are pleased to announce the launch of the sixth edition of Herbert Smith Freehills’ Asia-Pacific Competition Law Guide. Since the previous edition of the guide and in the context of the changes brought about by the COVID-19 pandemic, competition authorities across the Asia-Pacific region have...
29 June 2022
Trust Companies see cyber security as key business risk
Our survey confirms that trust companies continue to see cyber security as a key business risk. This is in line with companies in other areas: in IBM's 25 th edition of "The CEO Study", drawn from interviews with 3,000 CEOs worldwide, CEOs ranked cyber risk as their greatest organisational...
27 June 2022
Australia’s new employee stock ownership plan disclosure exemptions present a stark choice
New reforms designed to expand access to employee equity and reduce red tape by removing disclosure and other regulatory requirements will come into force in October – but the reality is they will present companies with a stark choice when offering equity in Australia to employees.
23 June 2022
Trust Companies Survey 2022: Beneficiary Disputes
Respondents continue to identify Beneficiary Disputes (ie disputes between the trustee and one or more of the beneficiaries) as a significant challenge. However, trustees' primary concerns remain in other areas, with Beneficiary Disputes ranking as the sixth most pressing issue. In this article, we...