The Association of British Insurers and the National Association of Pension Funds, whose members together own over half of the shares traded on the London Stock Exchange, have issued guidelines aimed at limiting the payments given to executives that have failed in their roles.
The move follows angry investor reaction to such rewards given to executives at companies such as Marconi, BT Group and Royal & Sun Alliance.
Both the ABI and NAPF said that their members will try to enforce the new guidelines when all remuneration policy changes come up for vote in the new year.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements