FAT CAT BACKLASH

摘要

Over the last 18 months we have seen a major downturn in the world economy. Economic conditions are forecast to remain challenging for at least the next 12 months. Continued examination of the causes and effects of the current downturn, together with the focus on the financial services sector, has meant that executive pay has again come into the spotlight. We have already seen the first signs of new regulation in this area with the publication of the Financiaf Services Authority's code of practice on remuneration policies in August 2009 and the adoption by the European Commission in April 2009 of two new recommendations, dealing with remuneration in the financial services sector and remuneration of directors of listed companies.