Welcome to the May issue of GuerdonNews^®

 In this newsletter we:  

• Consider aspects of APRA's draft guidance for remuneration regulation not yet finalised

• Summarise the government's somewhat sudden Friday night proxy adviser consultation paper 

• Alert you to ACSI’s expectations of climate exposed company directors

• Wish APRA considered some aspects of the UK’s proposed investment firm remuneration requirements 

• Review AMP Capital’s 2020 proxy voting record on remuneration

We conclude with mentions of Guerdon Associates' executive and director remuneration disclosure updates available on the GuerdonData® on-line database. And if you have any other executive remuneration or governance query, type it into your search engine with "Guerdon Associates" and you will find we will likely have provided an answer already. 

APRA consults on its remuneration regulation guidance ahead of the actual regulation

Cart before the horse?

APRA announces the introduction of its new remuneration practice guide CPG511, even though the pay regulation itself has not yet been finalised. 

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The government’s consultation paper on proxy advice

Proxy advisers under scrutiny (again)

Treasury (quietly) released a consultation paper with the intention to “strengthen the transparency and accountability of proxy advice”. Some of the key issues it proposes to investigate include the independence between superannuation and proxy advice, engagement between companies and proxy advisers and licensing requirements for proxy advice.

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ACSI’s climate change expectations of directors

Some directors will not receive their support for their re-election

The Australian Council of Superannuation Investors outlines its policy on companies with material exposure to climate change. It wants companies to integrate climate change into their governance frameworks. It is determined to advise its members to vote against directors who fail to do so.

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New UK remuneration requirements for investment firms

New rules come into effect on January 1 2022

New remuneration requirements have been tabled under the UK Investment Firm Prudential Regime (IFPR). There are aspects that we wish were in APRA’s CPS511 remuneration regulation, especially that requiring a “balance” between financial and non-financial incentive performance measures. 

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AMP Capital’s 2020 voting season in review

This $200 billion investor carries a lot of weight on remuneration resolutions

AMP Capital's stewardship report described how it voted in AGM’s over the past season. It includes its performance regarding director resolutions, remuneration reports, director fees, incentive grants and shareholder activism, among others.

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Latest GuerdonData^® Updates

Updates to GuerdonData^®  this month include disclosures from the following 45 companies: 

Australian Foundation Investment Company Ltd, Air New Zealand Ltd, Argo Investments Ltd, Australian United Investment Company Ltd, Betmakers Technology Group Ltd, BKI Investment Company Ltd, Brainchip Holdings Ltd, Contact Energy Ltd, Chalice Mining Ltd  , Coronado Global Resources Inc, Diversified United Investment Ltd, Ebos Group Ltd, Fineos Corporation Holdings Plc, Genesis Energy Ltd, Heartland Group Holdings Ltd, Hearts and Minds Investments Ltd, Home Consortium, Hutchison Telecommunications (Australia) Ltd, Infratil Ltd, Isignthis Ltd, Ale Property Group, Liberty Financial Group, Latitude Group Holdings Ltd, Macquarie Telecom Group Ltd, Mercury NZ Ltd, Meridian Energy Ltd, MFF Capital Investments Ltd, Magellan Global Fund, Maas Group Holdings Ltd, Milton Corporation Ltd, MCP Master Income Trust, NUIX Ltd, Objective Corporation Ltd, Paladin Energy Ltd, Pushpay Holdings Ltd, PSC Insurance Group Ltd  , Restaurant Brands New Zealand Ltd, Resimac Group Ltd, Summerset Group Holdings Ltd, Tilt Renewables Ltd, WAM Capital Ltd, Wam Leaders Ltd, Yancoal Australia Ltd, Z Energy Ltd, Zimplats Holdings Ltd 

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.