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The Board has an Audit Committee, a Remuneration Committee, a Nominations Committee and a Financial Risk Committee (“the Committees”). These Committees have set responsibilities and facilitate the Board in the effective management of the Group. The Committees meet regularly and have set terms of reference which can be obtained from the company secretary on request.
The Board Committee membership is as follows:
|Audit and Risk Committee||Remuneration Committee||Nomination Committee|
|Malcolm McCaig (Chair)||Giles Vardey|
|Giles Vardey||Malcolm McCaig||Malcolm McCaig|
Below is a summary of the respective roles and responsibilities of each Board Committee:
The Audit and Risk Committee comprises Malcolm McCaig (Chair) and Giles Vardey both of whom are independent non-executive directors. Other members of the Board and senior management team within Finance and Compliance, as well as the internal and external auditors may attend the Committee by invitation. The Audit and Risk Committee meets at least four times a year and receives reports from the Group's management relating to accounting and internal controls and the findings of both external and internal audits. The Committee has direct and unrestricted access to both the internal and external auditors.
The Committee is also responsible for:
The Remuneration Committee comprises Giles Vardey (Chair) and Malcolm McCaig who are both independent non-executive directors and meets at least twice each year.
The primary function of the Remuneration Committee is to review the salary levels, discretionary bonuses, share based awards and terms and conditions of service of the Executive Directors. The Committee also reviews the service contracts and compensation decisions made in respect of other senior management and Code Staff as defined by the FCA’s Remuneration Policy, as well as the Group bonus and share based awards distribution policy.
The Nomination Committee comprises Giles Vardey (Chair), Malcolm McCaig, and Frank Chapman. The Committee considers appointments to the Board and meets as necessary. The Nomination Committee is responsible for nominating candidates, for making recommendations on Board composition, and for considering succession planning requirements of the Group.
London Capital Group Holdings plc (LCGH plc) is a company registered in England and Wales under registered number: 05497744. London Capital Group Limited (LCG) is a wholly owned subsidiary of LCGH plc. LCG is authorised and regulated by the Financial Conduct Authority (FCA), a member of the London Stock Exchange and is registered under company number: 3218125. Registered address for LCGH plc and LCG is: 2nd floor, 6 Devonshire Square, London, EC2M 4AB.