There has been much in the press recently about concerns in the
US and Europe over "bankers' bonuses" and the control
and management of remuneration versus performance. However, these
concerns are global and in response to this, the Dubai Financial
Services Authority (DFSA) recently amended its Rulebook regarding
corporate governance requirements and remuneration. We understand
that the DFSA are likely to introduce further changes during the
course of 2013. Rebecca Ford and Antonio Michaelides provide
further details of the regulations introduced by the DFSA in
respect of remuneration practices.
From an employment law perspective, the issue of executive
remuneration and in particular, the regulation of bonuses, presents
an interesting challenge to the dynamic of the employer-employee
relationship. This is particularly the case in the financial
sector, where the remuneration structure of some employees has
historically comprised a relatively low basic wage
