FR – Report on corporate governance and executive compensation
On 26 November 2018, the French Financial Markets Authority (AMF) published its annual report on corporate governance and executive compensation in listed companies.
It deals with two specific topics, namely: executive mobility and voting on compensation. As concerns regulatory developments and action points, the AMF highlighted some provisions in the bill on corporate growth and transformation (otherwise known as the Pact).
In this bill, Article 61 supplements or amends current provisions on how to address social and environmental challenges. As to Article 66, it transposes provisions from the "Shareholders Rights Directive II" into the Commercial Code, and the Monetary and Financial Code. Moreover, this Article empowers the government to order the transposition of provisions of this directive on data exchange between issuers and shareholders, facilitation of shareholder rights, as well as transparency and approval of information pertaining to executive compensation ("say on pay").