At a glance: employment and incentives developments, October 2025

This month, our guide (link below) includes:

• Employment Rights Bill: The House of Lords is set to discuss final changes to the Employment Rights Bill on 28 October 2025.
• Unfair dismissal: EAT dismisses unfair dismissal claim in Alom v Financial Conduct Authority [2025] EAT 138, providing guidance on procedural fairness. 
• Umbrella companies: HMRC has published guidance and updated its Employment Status Manual to reflect upcoming changes to the tax rules in the umbrella company market.
• Share plans: LSE publishes final rules for Private Securities Market under the PISCES framework; Dematerialisation Market Action Taskforce established to deliver parts of the Digitisation Taskforce's final report.
• FCA Rulebook: FCA launches redesigned Handbook website.
• Corporate governance: FRC publishes its annual Review of Corporate Reporting.
• Executive pay: ISS publishes results of 2025 Annual Global Policy Benchmark Survey; access to our refreshed Directors’ Remuneration Report guide.
• Global share plans: Brazil, Chile, China, Czech Republic, France and Montenegro.

On 15 October, the PRA and FCA published their joint policy statement (PS21/25) on remuneration reform for banks, building societies and PRA investment firms. The regulators are going ahead with the changes consulted on in November 2024 but with some changes following the responses received, most importantly many relaxations have immediate effect.