GuerdonNews® Volume 16 Number 11

December 2018

Dear reader,

 

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Welcome to the December 2018 issue of GuerdonNews®

 

 In this calendar year's final newsletter we:

• Highlight the board remuneration committee's path to avoid getting on Santa’s naughty list

• Consider conflicts of interest issues arising from the Hayne Royal Commission, and provide a board checklist

• Consider pay equity for top women

• Summarise improvements announced for employee share schemes taxation 

• Consider the Reserve Bank of Australia’s view on incentives

• Present the ATO’s "clarifications" on Employee Remuneration Trust taxation

• Consider US executive termination payments and the extent that Australian law makes ASX listed companies uncompetitive

• Remind you of the date for the 13th Remuneration and Governance Forum - 7 March in Melbourne, and 11 March in Perth. The last Forum was booked out. 

We conclude with executive and director remuneration disclosure updates available on the GuerdonData® on-line database.

We look forward to reporting board governance and executive remuneration news to you again in 2019, with our first monthly issue to be delivered on the second Tuesday in February. It will feature a summary of what the Hayne Royal Commission's final report means, and our traditional crystal ball article on what the year has in store. In the interim we will, as usual, be toiling away the summer for our clients throughout January.

It has been another great year for Guerdon Associates. Thank you to our clients, and their investors, for being open and responsive to reward solutions that focus executives on creating value, and board governance processes to optimise risk and return.

From all of us in Guerdon Associates, best wishes for a safe, happy and prosperous New Year.

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Is your company on Santa's naughty list?

We provide handy tips for boards do the right remuneration things  

Guerdon Associates presents a handy remuneration checklist to help ensure your company avoids being on the wrong side of Santa. 

Read more

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Conflicts of interest, independent advice and checklist for boards

The Hayne Royal Commission commissioned an expert report on handling conflicts of interest

Disclosing a conflict of interest may make matters worse. Pressure to meet business targets could bring about a phenomenon called ethical fading. Our checklist provides several ways to prevent it. 

Read more

Remuneration and governance post Hayne - save the date

The afternoon of 7 March in Melbourne, and morning of 11 March in Perth

Join us for a discussion on the impact of the Hayne Royal Commission. Can you regulate and pay for morality and culture?

Read more

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Employee Share Schemes regulation changes 

New taxation rules. 

Guerdon Associates summarises proposed changes that apply to unlisted start-ups and smaller businesses. These could come in handy for larger companies as they become venture capital investors in potential disruptors.

Read more

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Reserve Bank Governor’s view on incentives in the financial services industry

The Governor speaks

His views touch on the ineffective ways some banks have addressed conflicts of interest, incentives that distort behaviour and, in some cases, the light touch employed by regulators.

Read more

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Share Schemes that use Employee Remuneration Trusts

The ATO's thinking finalised. We provide a checklist.

The ATO has published its view on the tax implications for all stakeholders involved in ERTs. Guerdon Associates highlights what to look out for.

Read more

Australian termination payments vs US severance packages

The differences between termination payments

The difficulties in determining termination payments for executives of Australian companies with US operations has to do with how “pay” is defined. 

Read more

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Remuneration and governance - be part of the most successful independent adviser in Australia

Guerdon Associates services are in ever higher demand. 

To meet the demand we need more people. But not ordinary people. We need people technically adept, capable of innovation, and who can work as part of a great team to properly analyse, identify and consider our clients’ issues, develop alternative solutions with a critical mindset to identify pros and cons, work with them to prioritise action, and assist on Implementation. Be the best - a principal, consultant or analyst with Guerdon Associates.

Contact us at careers@guerdonassociates.com

Latest GuerdonData® Updates

Updates to GuerdonData®  this month include disclosures from the following 12 companies: 

ARISTOCRAT LEISURE LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED, CYBG PLC, DULUX GROUP LIMITED, ECLIPX GROUP LIMITED, ELDERS LIMITED, GRAINCORP LIMITED, INCITEC PIVOT LIMITED, NATIONAL AUSTRALIA BANK LIMITED, TECHNOLOGY ONE LIMITED, WEBSTER LIMITED, WESTPAC BANKING CORPORATION.

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 HERE.

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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.

Copyright © 2018 Guerdon Associates

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