The Principles set out members’ views on the role of shareholders and directors in relation to remuneration and the manner in which remuneration should be determined and structured. We believe that these Principles continue to provide a useful guide to shareholder expectations and good practice. As ever, a continued and close dialogue between companies and their shareholders is crucial. This document is designed with a format of over-arching Principles and general Guidance. This document is predominantly for companies with a main market listing but is also relevant to companies on other public markets and other entities. Members continue to expect that, as a minimum, companies will follow the requirements relating to Remuneration in the UK’s Companies Act 2006, Reporting Regulations, the UK Corporate Governance Code and the UK Listing Rules. Where companies are not subject to these regimes they should apply similar high standards.