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Consultation opens regarding pay at Swiss financial institutions

The Swiss Financial Markets Supervisory Authority (FINMA) has opended the consultation period for the Circular on Remuneration Systems, which is expected to enter into force on 1 January 2010.

The Circular will have a direct impact on the remuneration systems …

Shareholders: “No action, No option” says Watson Wyatt

“We believe that active ownership can help enhance long-term shareholder value and are therefore supportive of pension funds being more active.”

That’s the message from a recent study published Watson Wyatt U.K., “No Action No Option,” which concludes that pension

Manifest publishes Total Remuneration Survey 2009

Manifest’s annual review of executive remuneration trendshas now been published and has received a positive response from a variety of market commentators including Robert Peston for BBC’s News at 10 and the BBC World Service’s European Business News.

This …

Sustainable Pensions Progress Report

New research from the UK Social Investment Forum (UKSIF) highlights “clear and exciting evidence” that a group of Responsible Investment (RI) champions is beginning to emerge among UK corporate pension funds. Three quarters of repeat respondents achieved a higher score

SEC taps investors for input

SEC Chairman Mary Schapiro has announced the creation of new advisory committee which is intended to give investors a greater opportunity for input on the Commission’s reform program.

SEC Commissioner Luis Aguilar is the primary sponsor of the 18-person committee …

Historic Royal Dutch Shell settlement with non-US shareholders

Royal Dutch Shell is to pay $381 million plus interest to a foundation representing over 150 institutional investors in nineteen countries. The settlement, following a binding declaration by the Amsterdam Court of Appeals, is considered to be a milestone, given …

Big protest vote at Tomkins AGM

At today’s AGM of Tomkins plc (FTSE 250 constituent), only 38.8% of shareholders voted in favour of the remuneration report resolution. Measured in terms of dissent (61.2%), the rebellion against the remuneration report ranks just outside the top ten all-time …

Press Roundup: Voting Trends, Lloyds

On Shareolder Voting Trends

… It shows that the average level of support for management proposals rose from 75.8% in 2006 to 84% last year. In Europe, Manifest, a shareholder-advice firm, says 97% of all shareholder votes cast in …

Bosses’ pay and WPP

You don’t need telling that the onset of the worst global recession since the 1930s has led to a sharp rise in bankruptcies among small businesses and to hundreds of thousands of job losses.

But 2008 wasn’t especially painful for

In the Press: European investors balk at director pay

“Voting down Shell’s pay plan sent a chastened company back to consult over revised proposals. It also set a new high-water mark for annual meetings in a year marked by battles about pay across Europe and an increase in No …