The continuing debate about executive pay is not limited to the UK. We have commented on recent UK developments but two recent announcements show the wider international concern.
First, the Norwegian Sovereign Wealth Fund, one of the largest in the World, indicated an intention to vote against pay structures which are “so complex, we don’t understand them”. Second, the Australian Parliament is introducing a Banking Executive Accountability Regime giving powers, amongst others, to adjust the executive pay and bonuses paid by banks in specified circumstances.
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