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New U.K. provision requires more transparency in directors' severance pay

U.K. companies now required to post all payments to outgoing directors on the company’s website

Is your company incorporated in the United Kingdom? Then no more hiding funds for you. When a director leaves a U.K. company, a new law requires the company to be more transparent with directors’ severance packages than ever before.

According to a new provision in U.K. law, companies will be forced to publish on their websites the details of any outgoing payments to the departing director. This includes both executive-level directors as well as non-executive level directors. According to lawmakers, this new law should force companies to be more up-front with shareholders rather than withholding information severance information until the company’s next annual report.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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