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Shareholder advisors group announces review of its best practice principles

The charter signatories to the Best Practice Principles for Shareholder Voting Research & Analysis (the BPP Group), which includes Manifest, will review its principles by the end of 2017 following a public consultation overseen by Chris Hodge, the new …

NEST renews Manifest contract for proxy voting and engagement support

NEST has renewed its contract with the proxy voting and analysis firm Manifest as part of its ongoing commitment to act as a responsible steward of members’ money.

Commenting on the relationship between NEST and Manifest, NEST’s Paul Todd said, …

LGIM to use vote to put pressure on firms to take climate change action

Legal & General Investment Management (LGIM) will be using its shareholder vote at company AGMs to put pressure on companies to take action to respond to climate change and demonstrate they are taking measures to move to a low carbon …

UK businesses and government should do more on human rights

The UK government should impose a duty on all companies to prevent human rights abuses with the failure to do so becoming an offence, the parliamentary joint committee on human rights has recommended in its report on human rights and …

BP reduces CEO remuneration and proposes a simpler pay policy

Oil giant BP, which last year lost its advisory vote on its remuneration report at its AGM, has reduced the pay of its chief executive, Bob Dudley, and will propose a simpler pay policy to shareholders at this year’s …

Bombardier back tracks on executive pay rises

An outcry from politicians and the public has forced Canadian train and aeroplane manufacturer Bombardier to back track on planned pay rises for executives after it had announced job losses and accepted a loan from its government.

Following the release …

US senators suggest acting SEC chairman is overreaching his authority

In a sign of disquiet about the acting chair of the US Securities and Exchange Commission (SEC), Michael Piwowar, Democratic Senators have suggested that he has overreached his authority in a letter to the regulator’s inspector general, Carl Hoecker.

The …

MPs call for toughening up of UK corporate governance rules

Directors should be required to take their corporate governance and legal duties more seriously the House of Commons Business, Energy and Industrial Strategy select committee believes. The committee’s report on corporate governance was published this week.

While the MPs state …

BEIS select committee discusses the future of work

Speaking at an evidence gathering session for the Future of Work inquiry being conducted by the Business, Energy and Industrial Strategy parliamentary select committee Steve Turner, assistant general secretary at the Unite Union said that his union had predominantly come …

Tesco avoids prosecution for 2014 false accounting with fine

Tesco has reached an agreement with the Serious Fraud Office (SFO) which, if approved by the court, will allow it to pay a fine for its false accounting in 2014 rather than face prosecution. Separately it has agreed with the …