GuerdonNews® Volume 6 Number 7

August 2010


Welcome to the August 2010 issue of GuerdonNews®

In this issue we:

• Note that the Corporations and Markets Advisory Committee (CAMAC) has released an executive remuneration information paper, and comment on the government's terms of reference and its election platform

• Discuss the corporate governance and executive pay provisions of new US law and its potential to influence Australia

• Are certain that the AASB's examination of the extent of uncertainty in equity plan expensing will not resolve uncertainty

We conclude with the latest on executive and director remuneration disclosure updates available on the GuerdonData® on-line database and references to Guerdon Associates in the news media.

CAMAC releases executive remuneration information paper – does the government really want to prescribe incentives?

The Corporations and Markets Advisory Committee (CAMAC) has released an executive pay information paper. However, its terms of reference seem to emanate as much from an election platform as the Productivity Commission executive pay enquiry.

Corporate governance and exec pay provisions of new US law not already in Australia may find their way there

With the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama on 21 July 2010, the US has finally introduced a non-binding shareholder vote on executive pay.

But it will not resolve an executive pay issue that impacts other countries. However, there are some aspects of the Bill Australia may consider.

Just how wrong can you be? Now the AASB is examining the extent of uncertainty in equity plan expensing (plus a gross-up for super valuations)

Executives and directors often complain that the accounting expense attributed to some executive equity payments bears no relation to the value realised.

To prove the point the AASB suggests the range of uncertainty be made more certain.

Latest GuerdonData® Updates

Updates to GuerdonData® include disclosures from the following 11 companies:

Aditya Birla Minerals Limited, Acrux Limited, APN News & Media Limited, Carsales.Com. Ltd, Crown Limited, Metcash Ltd, Sandfire Resources Nl, Silver Lake Resources Limited, TPG Telecom Limited, WDS Limited, White Energy Company Limited

Executive and director remuneration data from all ASX 300 companies on GuerdonData® is available to any subscriber. Visit our website for more information on GuerdonData®.

Assess how easily you can find out director and executive pay information by viewing our 6 minute demo. Click on the “More Info” button below.

Guerdon in the news

“Companies opt out of option rewards”, Patrick Durkin, The Australian Financial Review, 26 July 2010, P5


The information, analysis and opinion in this e-mail and attachments are intended to be for informational purposes only. Analyses are based on information taken from public documents or private surveys, and we do not represent to its accuracy. Guerdon Associates assumes no liability for the use or interpretation of information contained herein. This publication is provided 'as is' without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of marketability, fitness for a particular purpose, or non-infringement of third party rights.

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ISSN 1834-8300