Blog - Page 173 of 228 - Minerva-Manifest

Audit reform – a double win?

Advocates for audit and accounting reform made great strides this week. Although much of the attention will be directed at the OFT’s conclusion that the audit market isn’t working, a slightly less well covered but equally welcome development emerged from …

Audit market distorted and restricted says OFT

The UK’s competition watchdog, the Office of Fair Trading (OFT) has concluded that the audit market is not competing effectvely and is now considering a referal to the Competition Commission.

Taking a lead from the House of Lords Economic Affairs …

Investors take aim at US classified boards

Fourteen companies in the US S&P 500 have agreed to repeal their classified board status thanks to the joint engagement efforts of The State Board of Administration of Florida (the “SBA”), the investment manager of the Florida Retirement System, the …

Short-dated EGMs – don’t ban them, fix the voting

Pity poor Hammerson plc who last week became the first FTSE 100 company in many years to lose a routine resolution because it failed to achieve the necessary majority. We say …

Herbie votes again?

Procedures for voting at the upcoming AGM of Volkswagen AG have raised a few eyebrows at Manifest today (Tuesday 12th April).

Unashamedly putting the Shareholders’ Rights Directive (SRD) record back on the record player, and turning the volume up to …

Commission consults on an EU corporate governance framework

The European Commission released the eagerly-awaited Green Paper on Corporate Governance this week. It follows on from the Green Paper in June 2010 on Corporate Governance in Financial Institutions, as a result of a strong response pointing out that many …

Vote Tapping. Issuers, please – Just Say “No”

Here at the Manifest blog we try to keep a balance of news and stories for the informed Stewardship community – which includes shareholders and issuers. Today’s piece is addressed directly to the issuer community. It’s a simple message: when …

Shareholders care little about Audit says House of Lords

“The Big Four’s domination of the large firm audit market in the UK is almost complete: in 2010 they audited 99 of the FTSE 100 largest listed firms, which change auditors every 48 years on average. It is clearly an …

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Responsible NEST building

The UK’s new default retirement system, NEST, may not have invested a single penny in contributions but when it does, is determined to be a good Steward on behalf of the nation’s investors.

At a presentation to launch NEST’s Statement …

La langue de la diplomatie (the language of diplomacy)

Over the same weekend that the UN wrestled with the question of whether to intervene in the internal affairs of Libya, the French financial markets regulator, the Autorité des Marchés Financiers (AMF), issued a stunning piece of surprise, summary intervention …