The Equality and Human Rights Commission has produced a guide for UK boards to ensure that they are taking human rights seriously and meeting their international obligations. The guide provides five steps boards should follow to satisfy themselves that their companies identify, mitigate and report on the human rights impacts of their activities. These steps will also […]
Read MoreFerrexpo, which manufactures iron ore pellets which are used in the steel industry, has received a high level of opposition from shareholders to a number of resolutions at its AGM this week (19th May) including those relating to the appointment of non-executive directors. This has meant the company will need to call a second vote to […]
Read MoreStandard Life, which as an institutional investor is known for its stewardship approach, faced opposition to the pay awarded to its chief executive, Keith Skeoch at its recent AGM (17th May). The investment and insurance company received a 22% vote against it remuneration report. This week’s other UK AGM results also showed continuing disquiet among shareholders about executive […]
Read MoreUS legislators held a hearing recently (17th May) which considered possible bills which they believe would improve US financial transparency, regulation and capital market formation, including a proposal “To improve the quality of proxy advisory firms for the protection of investors and the U.S. economy, and in the public interest, by fostering accountability, transparency, responsiveness, and […]
Read MoreThe US federation of trade unions, the AFL-CIO, has released its latest Executive Paywatch data which it says shows the average CEO of an S&P 500 company received an annual income of $12.4 million in 2015—335 times more money than the average rank-and-file worker. The AFL-CIO said its figures showed that in 2015 the average production and non-supervisory worker earned about $36,900 per […]
Read MoreThe US Public Company Accounting Oversight Board (PCAOB) has announced that its rules to improve the transparency of the audit by disclosing the names of audit engagement partners, as well as information about other firms that participate in the audits, were approved by the Securities and Exchange Commission. Audit firms are required to file with the PCAOB […]
Read MoreNomination committees have been the poor relation of board committees, according to advisory firm, Ernst & Young (EY). However this appears to be changing as companies adapt to demands for a more professional approach to director recruitment and to scrutiny about board diversity and effectiveness. In The nomination committee — coming out of the shadows published […]
Read MoreTwo thirds (65%) of large UK companies have admitted to having suffered a cyber breach in the past year, according to a survey conducted for the government. The study also found that 69% of companies said that senior managers were aware of the problem but only just over half (51%) had taken the recommended actions to […]
Read MoreResponsible investment advocacy group, ShareAction has called on US asset manager, Vanguard, to demonstrate its commitment to company engagement on climate issues by voting in favour of shareholder resolutions on climate risk at ExxonMobil and Chevron, in an open letter to its chief executive Bill McNabb. In the letter Catherine Howarth, chief executive of ShareAction, calls on the company to undertake […]
Read MoreAn international anti-corruption summit in London this week has led to an international communiqué in which countries have signed up to taking action to address corruption and reduce financial secrecy which hurts developing countries and their people. Participants also produced their own statements of the actions they were taking in their countries. In his closing speech […]
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