The forensic examination of documents by the Hayne Royal Commission is likely to lead to additional demands being placed upon Remuneration Consultants and Board Remuneration Committees.
There has been a significant increase in the number of ASX 300 companies receiving a strike against their remuneration report in the 2018 AGM season, with fifteen companies overall receiving strikes compared with six in 2017.
Companies need to identify ways to make annual general meetings (AGMs) transparent, ethical, and effective.
One of the questions raised by Rowena Orr, QC in the Banking Royal Commission’s session which took place on 27th April 2018 was “How can companies incentivise good quality advice where the best advice is to do nothing?”
The Australian Securities & Investments Commission issued Report 564 in January this year.