Welcome to the November issue of GuerdonNews^®

 In this newsletter we:  

• Observe that less carbon intensive industry executives now have environmental incentives

• Surmise that Glass Lewis' new PE owners recognise the lucrative allure of ISS's business model

• Describe cryptocurrency remuneration tax implications

• Consider the results of APRA’s survey on risk culture survey of 12 insurers 

• Ask when a disposal restriction on executive vested equity is enough for tax deferral 

• Summarise APRA's new prudential practice guide on remuneration

We conclude with 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. 

Executive incentive environmental measures apply in more companies

Growth in relatively low carbon intensive industries

Guerdon Associates and our global GECN Group will soon publish our global ESG and executive remuneration research report. In this article, we look at environmental measures in ESG, and how companies have incorporated them in their incentive plans. While major carbon-emitting companies have led the way in incorporating these environmental measures, other companies in less emitting sectors are now following suit.

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Glass Lewis begins providing advisory services to listed companies

Its PE owners see no conflicts with their interests

The proxy adviser has announced that it will begin offering services to US and Canadian listed companies on how they evaluate equity plans, and thus help them develop plans that are more in line with shareholders. Providing this service, according to Glass Lewis, will "assist" companies "meet shareholder expectations".

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Paying employees in cryptocurrencies

What’s mine is mined

As high street banks provide access to cryptocurrencies for the masses, it may be inevitable that crypto enters the frame as a form of remuneration. Countries such as Australia and New Zealand have already considered the tax implications of such remuneration.

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APRA surveys risk culture

The regulator discounted 20% of employees' input for not paying attention 

The survey was conducted across 10 general insurers to assess and benchmark risk culture. One of the areas in the survey was performance management and incentives. One finding showed an interesting relationship between survey participation and strength of risk culture within the organisation.

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Deferring tax on executive incentive vested equity

When is a disposal restriction truly a restriction?

There are some conditions to be met to defer the tax on vested performance shares, options and rights. One of these is the removal of a genuine disposal restriction. The ATO clarifies the term genuine and the timing of the restrictions. The ATO provides handy examples.

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Executive and risk taker pay guidance

APRA provides more clarity to banks, insurers and superannuation funds

The practice guide outlines several key aspects including the requirement for board remuneration committees to consult the board risk committees, requirements around deferral complete with examples, non-financial measure weighting and more.

Read more

Latest GuerdonData^® Updates

There are 14 updates to GuerdonData^®  this month.   

Brickworks Limited, Bank Of Queensland Limited, BWX Limited, Centuria Capital Group, Cooper Energy Limited, Carnarvon Petroleum Limited, IOOF Holdings Limited, Mineral Resources Limited, Monadelphous Group Limited, NRW Holdings Limited, Pro Medicus Limited, Redbubble Ltd, Sims Metal Management Limited, Soul Pattinson (W.H)

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.