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Sweeping new rules to prevent scandals like BHS, Carillion and Patisserie Valerie

Sumary of Sweeping new rules to prevent scandals like BHS, Carillion and Patisserie Valerie:

  • T he government was today expected to propose severe new curbs to prevent corporate scandals by making companies claw back bonuses paid to directors whose decisions go badly wrong and banning unaffordable dividend payments…
  • The White Paper suggests a scheme where all listed companies will be mandated to claw back bonuses and share awards from executive directors if they fail to protect customers’ and employers’ interests, The Times reported…
  • On dividends, companies would have to make a formal statement about the legality and affordability of payments in a move clearly inspired by Carillion payments of dividends months before reporting outlandish losses….

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