The South African Times has reported that a ‘group of stakeholders within the investor community have with the assistance of The Institute of Directors in Southern Africa (IoDSA) convened a committee for the drafting of a code for responsible shareholder investing’. The new Code is expected to supplement the existing King III Corporate Governance Code […]
Read MoreThe Dodd-Frank financial reform bill was voted through by both the House of Representatives and Senate by 237-192 and 60-39 respectively. The legislation is now expected to be signed into law by President Obama as early as this week. The passage of the bill is particularly significant for the corporate governance community which worked together […]
Read MoreThe threat of quotas to improve board diversity moved a step closer last week with EU Fundamental Rights Commissioner Viviane Reding telling the European parliament: “Equality in decision-making is not yet a fact … I do not rule out the possibility of putting forward legislation in this area.” Speaking to the Guardian newspaper her spokesman , […]
Read MoreFair corporate suffrage is an important right that should attach to every equity security Source: United States Congress, 1934 There’s no small irony that the first shareholder voting regulations were introduced in the aftermath of ‘The Great Crash’. Now, another market collapse has brought regulators full circle and owners of US companies finally have their chance […]
Read MoreInvestment bank Mediobanca is said to have reached a unanimous agreement on the Assicurazioni Generali board list which will include a new chairman for Europe’s third biggest insurer. Generali is, as the FT puts it “arguably Italy’s most important financial institution” and Mediobanca “did not even bother to announce formally its nominees for the top positions […]
Read MoreThe US Securities and Exchange Commission looks set to debate its “concept release” on the mechanics of the US proxy system next week. According to an SEC announcement, the commission is scheduled to meet on July 14 at 10am to vote on the “concept release” seeking public comment on how to enhance the “efficiency and integrity” […]
Read MoreSome 55.44% of the votes cast on the resolution to approve the remuneration report at the AGM of Punch Taverns voted against the remuneration report, condemning the report to defeat. The company joins a select list of five companies in the FTSE All-Share to have lost this vote in 2009. Shareholders were upset at the […]
Read MoreA consultation paper has been published by the Irish Stock Exchange in which it proposes the introduction of an Irish Corporate Governance Code, a draft copy of which has been published. The proposed Code supplements the existing Combined Code (being renamed the UK Corporate Governance Code) with some of the key recommendations of the report […]
Read Moregoes to Australian-listed Qbe Insurance Group Ltd at 32 days. But before company secretary Duncan Ramsay throws himself onto his letter opener, it’s not his fault. Yes we are back to the wretched “chain of intermediaries” again. As one of our senior developers muttered into his coffee this morning: “This just seems a ridiculous situation in the 2nd decade of […]
Read MoreFriends of the UK Sustainable Investment Forum (UKSIF) gathered at the Houses of Parliament on June 28th to celebrate the 10th anniversary of of environmental, social and corporate governance (ESG) regulation in the UK. UKSIF also launched a report that reflects upon the effects of the regulation and addresses important next steps for environmental, social and […]
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