Compulsory Dividend Bonus

By Jean-Benoît Cottin The law passed on July 28th, 2011 requires all French companies and groups of companies whose holding company is in France, to pay a bonus to employees if they distribute a dividend to their shareholders, which is higher...

Implementation of CRD III

On 28 April 2011 the parliament passed amendments to the Banking Act and the Act on Trading in Financial Instruments, which are the first steps towards the implementation of the Directive 2010/76/UE (the so-called CRD III). The amendments set mechanisms...

Government Signals New Employment Law Reforms

By Richard Lister The UK's Coalition Government has announced that it will be extending its review of employment law to cover three new areas. This forms part of a broader strategy to simplify legislation, improve efficiency and reduce business red...

Salary Increases Seriously Limited for 2011 and 2012

As already known, the social partners did not succeed in concluding an inter-professional agreement for 2011-2012. In recent years, they always succeeded in doing so and thus fixed an indicative margin determining how remuneration costs could change in the two...

New CBFA Regulation Dealing with Remuneration Policies in the Financial Sector

The Banking, Finance and Insurance Commission (CBFA) has published a new regulation relating to the remuneration policies in financial institutions. This regulation implements the CEBS guidelines on remuneration policies and practices aimed at facilitating the implementation of European Directive 2010/76/EU...

Compensation Limits and Statutory Payments For 2011

The UK Government has announced the annual changes to the statutory limits on certain Employment Tribunal awards and other amounts payable under employment legislation. These will take effect on 1 February 2011. The changes are set out in the...

Financial Reform Act Contains Many Executive Compensation Provisions

On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. 4173) (the "Act"), which is intended "to promote the financial stability of the United States by improving accountability and transparency in...

New Compensation Limits and Statutory Payments for 2010 Confirmed

The Government has published the Employment Rights (Revision of Limits) Order 2009, which contains revised Employment Tribunal compensation limits applicable from 1 February 2010.  Amongst other things, the Order revises the maximum compensatory award for unfair dismissal downward, from £66,200...

Conflicting Signs on Bonus Prospects in UK Financial Sector

The Guardian reports that the UK government is urging investment bankers to demonstrate restraint on bonuses, as the major US banks with big operations in London prepare to report healthy third-quarter profits. At a meeting with 11 of the highest...

New Judgment Revises Discrimination Compensation Guidelines

The judgment of the Employment Appeal Tribunal (EAT) in Da'Bell v National Society for the Prevention of Cruelty to Children on September 28 has revised the judicial guidelines on compensation for injury to feelings in claims of unlawful discrimination and...