The issue of CEO bonuses is a perennial favourite of the financial press. This topic will again be a focus in a few months when reporting season begins and companies declare what their CEOs were paid in these unprecedented times. This report aims to give readers a broader perspective of this topic by using PFS’ […]
PFS Consulting is pleased to provide this submission in relation to the draft Prudential Standard CPS 511 – Remuneration (“CPS 511”). PFS Consulting is an independent consultancy established in 2001. We provide remuneration, governance, and risk consulting services to a wide range of clients. These include APRA regulated entities including superannuation funds, life and general […]
The proposed APRA executive remuneration standard, CPS 511, aims to ensure that remuneration arrangements in the financial services effectively manage both financial and non-financial risks. The key requirements of the draft standard are as follows: The Board of an APRA-regulated entity is responsible for the remuneration framework and its effective application. An entity must have […]
Staying ahead of the wave: will the recommendations from the Royal Commission cause a tsunami of changes for executive remuneration?
Tucked neatly in the Royal Commission report, starting on page 347, is a little section that focuses on Executive Remuneration. This section has received little media attention; however the recommendations could instigate significant changes that are likely to flow to all Australian companies. This article highlights the key issues for Boards, particularly Remuneration Committees, and […]