If you or your firm aren’t already covered by one of Europe’s many bonus limitations, maybe now you are!

Britain’s stock-market listed companies should be able to claw back bonuses paid to poorly performing executive board members, a regulator proposed on Thursday, mirroring steps already being taken by banks.

The Financial Reporting Council (FRC) published how it plans to toughen its corporate governance code, a set of standards which companies must comply with or explain publicly why they do not….

Although less strict than the rules for banks, the audit watchdog hopes its standards will encourage executive board members to put a company’s well-being before their own….

The watchdog wants to make a company’s remuneration committee more responsible for ensuring that executive pay is designed with long-term success in mind, rather than short-term gains that could encourage excessive risk-taking.

UK plans tougher pay rules for top company executives [Reuters]

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