goes 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 […]
Read MoreLondon Stock Exchange this week announced a consultation on the AIM Rules a which is open until 15 January 2010. The proposals will see all AIM companies obliged to disclose details of directors’ remuneration on an individual basis, as the rules catch up with the actual practice of most leading AIM companies. The UK Companies […]
Read MoreThe UK has offered a new template for global governance with the introduction of the first formal code of conduct for investors. Under the watchful eye of the Financial Reporting Council, it is hoped that the Stewardship code will, as Chairman Baroness Hogg said: “be a catalyst for better engagement between shareholders and companies and create a […]
Read MoreAs shareholders grapple with how to vote on an increasing number of management say on pay (MSOP) proposals at US companies – and companies face increasing pressure to adopt the practice – various players in the industry are providing suggestions on how best to handle from both perspectives. In 2008, only six companies voluntarily subjected […]
Read MorePROXY Governance and the Investor Responsibility Research Center Institute (IRRCi) today released a new study, “Compensation Peer Groups at Companies with High Pay” that identifies a subset of S&P 500 companies with high pay that is not aligned with high performance. The data reveals that high executive pay companies self-select larger than appropriate peers – […]
Read MoreThe 2009 update to the ABI Guidelines on Executive Remuneration will be a disappointment to many investors. The amended guidelines fail to deal with some of the key structural deficiencies in executive pay practice and guidance – a contributory factor to the downturn – although the ABI has inserted 53 words to emphasis the need […]
Read MoreMary Schapiro, chairman of the Securities and Exchange Commission is a step closer to straightening out America’s proxy plumbing. In a speech made at the Stanford University Law School Directors College on June 20th, Schapiro outlined the Commission’s current thinking. “the Commission will soon consider publishing a concept release soliciting detailed ideas about how to […]
Read MoreThe $185 million in civil and criminal payments agreed in a U.S. courtroom last week by the German car maker Daimler have been widely reported. What has been less well covered is the role of the internal audit team that could have prevented the wreck in the first place. In 1997 Germany ratified the OECD Anti-Bribery Convention […]
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