Norges Bank Investment Management (NBIM), the investment arm of the Norwegian central bank and asset manager for the Norwegian Government Pension Fund and the Government Petroleum Insurance Fund managing over NOK1,000bn (£107bn) in equity investments, has filed shareholder proposals at …
Read MoreUBS shareholders now have six months to decide whether to file actions against the board after voting down the 2007 director liability discharge resolution.
A total of 52.8% of shareholders voted against the discharge for 2007 with 46% in support. …
Read MoreFollowing the December 2009 announcement MAN SE’s acceptance of the two administrative orders issued imposing fines on certain subsidiaries, and the closure of the internal investigations into the matter, attention now turns to the Group’s AGM on 1 April.
The …
Read MoreLack of board independence may make UK investment trusts targets for activist shareholders according to Simon Westlake at City of London Investment Group, a big activist investor in emerging market investment trusts. “Some boards have been too much in the …
Read MoreAfter setting a new high-water mark in 2009 in terms of US shareholder proposals (more than five dozen) and support (one majority vote and three others exceeding 40% of the votes cast), proponents of climate change resolutions are gearing up …
Read MoreThe Financial Reporting Council (FRC), the UK’s corporate governance regulator, wants to hear from institutional investors in the UK and overseas about its proposals for a new “Stewardship Code” aimed at creating best practice principles for investors when engaging with …
Read MoreAfter weeks of will they, won’t they and political horse-trading Britain’s top banks have committed to implement the remuneration reforms agreed by the G20 in Pittsburgh.
The five banks, Barclays, HSBC, Lloyds, RBS, and Standard Chartered – have confirmed their …
Read MoreAustralian Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen has delighted Australian shareholders with plans to introduce extensive executive remuneration reforms designed to force boards to be more accountable and give shareholders more power.
In a ringing endorsement …
Read MoreThe Securities and Exchange Commission has published its final rules which require a “say on pay” (SOP) for companies which have received financial assistance under the Troubled Asset Relief Program (TARP).
The key points are that:
- The proxy will have
Investors should be made to engage – or so it has been suggested. Speaking at last week’s CEIOPS conference (Committee of European Insurance and Occupational Pensions Supervisors) Patrick Brady, chair of the Joint Committee on Financial Conglomerates (JCFC), aired the …
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