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Major shareholder advisers call for crackdown on executive bonuses

ISS, Glass Lewis and Minerva Analytics have a number of ideas for MPs reviewing executive pay

Australian financial services giant AMP suffered one of the world's biggest protest votes at its AGM this year on May 10, when 61% of shareholders rebelled. Several UK companies have also received pay rebukes, but governance advisers want more reform
Australian financial services giant AMP suffered one of the world's biggest protest votes at its AGM this year on May 10, when 61% of shareholders rebelled. Several UK companies have also received pay rebukes, but governance advisers want more reform Photo: Getty Images

A trio of influential shareholder advisers have called on UK politicians to mount a fresh crackdown on FTSE bosses' bonus schemes and to boost the role of retail investors in corporate governance.

Institutional Shareholder Services, the largest and most influential of the firms, its US counterpart Glass Lewis, and UK agency Minerva Analytics — previously known as Manifest — offered submissions to a UK Parliament's Business, Energy and Industrial Strategy committee that is looking into the issue. These were published on June 5.

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