Global standard-setters unite on sustainability reporting

Global standard-setters unite on sustainability reporting Five leading global reporting standard-setters have agreed to work together to develop a comprehensive sustainability reporting regime for companies. The breakthrough was announced on 11 September in a joint statement from the CDP, the Climate Disclosure Standards Board (CDSB), the Global Reporting Initiative (GRI), the International Integrated Reporting Council […]

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Investor group urges SEC to reopen proxy rules comment period

Investor group urges SEC to reopen proxy rules comment period A group of investors is calling on the SEC to reopen the comment period on amendments to shareholder proxy rules after new data was submitted by its Division of Economic and Risk Analysis (DERA). The DERA data, submitted on August 14, revealed that changes to […]

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EU-wide push expected on corporate long termism

EU-wide push expected on corporate long termism New legislation and heavier enforcement actions could be on their way for EU companies following fresh concerns they are neglecting long-term value creation for shareholders. Entitled, ‘Study on directors’ duties and sustainable corporate governance’, a white paper from the European Commission has laid out three options for encouraging […]

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UK-listed companies offered Covid-19 issuance lifeline

UK-listed companies offered Covid-19 issuance lifeline UK-listed companies hit by Covid-19 are being given an additional lifeline as the Pre-Emption Group (PEG) extends the easing of its issuance guidelines, allowing more share capital to be raised from shareholders. The PEG, the affiliate of the Financial Reporting Council that provides guidance on fundraisings and rights issues, […]

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DOL throws curveball into its approach to governing shareholder rights

DoL questions purpose of shareholder voting The US Department of Labor (DoL) has thrown a new curveball into its approach to governing shareholder rights, questioning the need for asset owners to have their voices heard by companies at all. Following its recent proposals around how asset managers obtain and validate information on the companies they […]

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China finance forum urges US cooperation

China finance forum urges US cooperation A group of senior Chinese regulatory officials and financial experts is calling on their home nation to co-operate with the US to avoid further escalations of the ongoing trade war. The China Finance 40 Forum (CF40) is urging China to reform financial markets to avoid US sanctions, according to […]

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Banks dragged into legal action over Bayer-Monsanto deal

Banks dragged into legal action over Bayer-Monsanto deal Advisers to the Bayer-Monsanto takeover have been dragged into a lawsuit against the pharmaceuticals company that was originally filed in March. Plaintiff Rebecca Haussmann, trustee of the Konstantin S. Haussmann Trust, filed the amended claim in New York County Supreme Court at the end of August. It […]

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Jamie Dimon

CEO stakeholder commitments illusory claim Harvard duo Research conducted by two renowned Harvard academics has cast doubt on the commitments made a year ago by 181 CEOs affiliated to the Business Roundtable trade group. Twelve months ago, business leaders at some of the world’s biggest companies pledged that they would consider the interests of all […]

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Lord Callanan, Minister for Climate Change and Corporate Responsibility

UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]

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Investors urge DoL to pull ESG proposals

Investors urge DoL to pull ESG proposals Institutional investors from around the world have urged the US Department of Labor to pull back on its proposed Financial Factors in Selecting Plan Investments Regulation and give them more time to feedback. Retirement schemes and pension plans from the US, UK, Italy and Spain have submitted evidence […]

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