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The aim of this consultation is to seek views on a mandatory requirement, from 2012, for large UK banks to publish the pay details of their eight highest paid senior executive officers.
We are inviting representations from all interested parties. Respondents should address any of the questions on which they feel they can make a contribution, as well as offering any further comments.
In February 2011, the Government announced an accord between the UK Government and major UK banks under the name ‘Project Merlin’. As part of this announcement, the Government committed to consulting on extending the remuneration disclosures of the highest paid non-board executives made under Project Merlin, to all major UK banks from 2012 onwards.