The NASDAQ Hearing and Listing Review Council is soliciting comments from companies, investors and other interested parties about whether it should adopt a “Comply or Explain” approach to corporate governance practices similar to that used in a number of non-U.S. markets writes Scott Fenn of Manifest’s US partners, ProxyGovernance Inc. The exchange says that this […]
Read MoreNozoe Kuniaki, ousted CEO of Tokyo Stock Exchange’s 40th largest company, Fujitsu, this week issued a Court petition in an attempt to clear his name following unfounded accusations of links to organised crime. At a news conference this week, Nozoe threatened to sue two Fujitsu executives over his departure, which he claims was linked to his attempts […]
Read MoreThe Extraordinary General Court of Bank of Ireland held today (Jan 12) approved important changes to the Bye-Laws of the company, with 99% of shareholders voting in favour. Bank of Ireland was established by Charter and thus is subject to a somewhat different regulatory structure than companies incorporated under the Companies Act. The Bye-Laws of […]
Read MoreCanada’s largest financial institutions have agreed a voluntary approach to “say-on-pay” which will see a standardised, non-binding shareholder vote proposed during the 2010 season. In a sharp contrast to the US’ legislative battle to give shareholders a voice on executive pay, Canadian shareholder groups and companies have worked together to create a common format which […]
Read MoreIn December 2007, ASIC commenced civil penalty proceedings in the Supreme Court of Victoria against six former directors and officers of AWB Ltd, the ex-ASX 100 constituent. The trial against the former CEO, Andrew Lindberg began in the Victorian Courts this week and is expected to run for several months. The court proceedings have heard […]
Read MoreThe UAE is paving the way for a tougher regulatory regime according to Emirates regulatory affiars officer Maryam al Suwaidi. Speaking at the First Abu Dhabi Corporate Governance Conference on Wednesday, al Suwaidi said that the Emirates Securities and Commodities Authority (ESCA) has been involved in drafting the law, which would be in line with […]
Read MoreAs G20 leaders convene in the USA this week, the European Commission has announced its plans to create a tougher financial regulation framework for EU member states. “This European system can also inspire a global one and we will argue for that in Pittsburgh,” European Commission President Jose Manuel Barroso said. The EU proposals call […]
Read MoreCiting the pressures of the “financial crisis” the ING Trust Office has stepped back from its committment to review its role in voting the un-voted shares at Dutch BOFI, ING Group. Foreign shareholders will be dismayed to see that despite having met the 35% voting threshold at the last 3 AGMs, the Trust appears determined […]
Read MoreEasyjet has joined the ‘remuneration-report hall of shame’ following yesterday’s AGM when 28% of shareholders opposed its remuneration report. The revolt puts the low cost airline in the company of Shell, Grainger, Punch Taverns and who have all suffered remuneration defeats at the ballot box. The result probably comes as no surprise given the sharply increased focus on executive […]
Read MoreMost investment managers are voting proxies without guidance from clients, according to a new survey released this week by the Canadian Shareholder Association for Research and Education. In its annual proxy survey, SHARE reports that 71% of investment managers say that they vote most of their pension fund clients’ proxies at their own discretion, without […]
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