PracticeConsultingStock Exchange rules threatened by lack of information

Stock Exchange rules threatened by lack of information

Stock Exchange listing rules on directors' benefits are becoming almost impossible to maintain because of a lack of information, according to a firm of actuaries.

According to a recent survey, there is still too little information in the public domain on directors’ pension costs to allow company remuneration committees to make comparisons with other firms – a measure at the centre of best practice provisions in Stock Exchange listing rules.

Carried out by Lane Clark and Peacock, the survey, published at the end of December, covered 145 companies, of which 95 are in the FTSE 200, and a large number of UK subsidiaries of overseas companies.

Mark Jackson, author of the report, said: ‘We are delighted with the response to our survey, but the undeniable conclusions is that there is still far too little information in the public domain on this vital subject.’

The Stock Exchange’s Code of Best Practice enshrines the principle that firms should compare directors’ benefits with those in other firms.

‘But,’ said Jackson, ‘without the necessary information it is difficult for remuneration committees to do this effectively.’

Directors’ pensions are also consting more to provide, according to the survey and retail companies spent more on pensions than any other sector.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer