Reported 11 months ago
The head of the UK's corporate governance and accounting watchdog expressed concerns that UK companies are facing challenges in competing for talent due to executive pay caps influenced by powerful proxy advisers advocating against US-style pay packets. The Financial Reporting Council is reviewing the role of these proxy agencies and considering stricter oversight, as well as exploring the impact of a potential shift in benchmarking UK firms against local and European peers. The regulator also emphasized the need for reforms to create a more robust accounting regulator to ensure the UK remains competitive amidst growing regulatory pressures.
Source: YAHOO