Glossary

Near miss reporting is the practice of recording events that could have caused injury, damage or loss but did not, so the causes can be fixed before a real accident happens.

The nomination and remuneration committee is a board committee that proposes who joins and leaves the board and senior management and recommends how directors and executives are paid. Some firms split it into two.

A non-executive director sits on the board but does not work in the company's management. The role is to challenge executives, oversee performance and risk, and bring outside experience.

An NFFE is a non-US entity that sits outside the financial sector, such as a trading or manufacturing company, which is classed as active or passive for tax reporting under FATCA and CRS.