Anyone who has listened to Vince Cable recently will know that he is on a tireless crusade to reduce executive pay. There have been two developments in this area:
It remains to be seen whether there will be some attempted regulation in this area or, more likely, further encouragement for shareholders to challenge executive pay.
Also on pay, the FSA has issued a new "Dear CEO" letter in relation to the FSA Remuneration Code, which is primarily aimed at Tier 2, 3 and 4 firms. http://www.fsa.gov.uk/pubs/guidance/fg11_16_remuneration_t234.pdf