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Audit votes increase in US

Amendments to ‘Broker Voting Rule’ yield unexpected results

The long-awaited change to NYSE Rule 452, effective Jan. 1, 2010, reclassifying uncontested director elections as ‘non-routine’ items, thereby eliminating the discretion of brokers to vote uninstructed shares, also makes it more …

FRC to reform UK governance code – new name, new emphasis

The UK’s Finanancial Reporting Council has issued a series of proposal to reform the UK’s corporate governance regime. What was previously called “The Combined Code” now becomes “The UK Corporate Governance Code” and, subject to consultation, will apply to all …

Guest Column: FairPensions makes the case for RI

This month’s guest article has been written by Catherine Howarth, CEO of FairPensions.

Corporate governance reform isn’t perhaps the most glamorous area of public policy for your ordinary man or woman on the street. Indeed it’s easy to forget how …

The vote for audit quality

Next week’s vote on the appointment of KPMG plc at Rentokil (15 May) looks to be more than usually interesting. While the cut price deal struck by KPMG offers a 30% headline discount, concerned investors are questioning the real hidden …

UBS: Director liability discharges on the agenda

UBS has confirmed that it will be seeking a formal liability discharge at next month’s AGM for the board members and senior executives involved in the bank’s management during the financial crisis.

No liability discharge resolution has been proposed for …

Notable shareholder resolutions

While shareholder resolutions and countermotions are still relatively rare in Europe, they are a core feature of the US market. Here Allie Monaco of ProxyGovernance has highlighted some of February and March’s more interesting proposals.…

Executive pay restraint urged

The NAPF has written to the Chairmen of all FTSE 350 companies urging executive pay restraint and making it clear that company remuneration should be aligned with the long-term interests of shareholders, including pension funds. The letter suggests that a …

ASIC seeks disqualification of Centro directors

The Australian Securities and Investment Commission this week announced it intended bringing civil charges against the enitre 2007 board and a former Chief Financial Officer of various entities withing the Centro Properties Group and Centro Retail Group.

This is the …

NBIM turns up the heat on governance

One of the world’s largest sovereign wealth funds, Norway’s $325 billion oil fund, has written to Volskwagen AG expressing its “deep concern” about the Porsche merger saying the deal favors the Porsche and Piech families which together own 51 percent …

Investor Relations professionals seek Stewardship Code role

The UK’s Investor Relations Society is seeking to put its members at the heart of the governance role according to a guidance consultation published this week. The consultation is the Society’s response to the FRC’s own consultation on the UK …