DOL throws curveball into its approach to governing shareholder rights

DoL questions purpose of shareholder voting The US Department of Labor (DoL) has thrown a new curveball into its approach to governing shareholder rights, questioning the need for asset owners to have their voices heard by companies at all. Following its recent proposals around how asset managers obtain and validate information on the companies they […]

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China finance forum urges US cooperation

China finance forum urges US cooperation A group of senior Chinese regulatory officials and financial experts is calling on their home nation to co-operate with the US to avoid further escalations of the ongoing trade war. The China Finance 40 Forum (CF40) is urging China to reform financial markets to avoid US sanctions, according to […]

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Banks dragged into legal action over Bayer-Monsanto deal

Banks dragged into legal action over Bayer-Monsanto deal Advisers to the Bayer-Monsanto takeover have been dragged into a lawsuit against the pharmaceuticals company that was originally filed in March. Plaintiff Rebecca Haussmann, trustee of the Konstantin S. Haussmann Trust, filed the amended claim in New York County Supreme Court at the end of August. It […]

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Jamie Dimon

CEO stakeholder commitments illusory claim Harvard duo Research conducted by two renowned Harvard academics has cast doubt on the commitments made a year ago by 181 CEOs affiliated to the Business Roundtable trade group. Twelve months ago, business leaders at some of the world’s biggest companies pledged that they would consider the interests of all […]

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Lord Callanan, Minister for Climate Change and Corporate Responsibility

UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]

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Investors urge DoL to pull ESG proposals

Investors urge DoL to pull ESG proposals Institutional investors from around the world have urged the US Department of Labor to pull back on its proposed Financial Factors in Selecting Plan Investments Regulation and give them more time to feedback. Retirement schemes and pension plans from the US, UK, Italy and Spain have submitted evidence […]

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US business lobbies press for laws on boardroom diversity

US business lobbies press for laws on boardroom diversity A group of US business associations has called on the Senate to ratify legislation on boardroom diversity that was passed by the other chamber last year. In an open letter to Mike Crapo, chairman of the committee on banking, housing, and Sherrod Brown, the committee’s ranking […]

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Dalriada Trustees selects Minerva for implementation statements reporting

Dalriada Trustees selects Minerva for implementation statements reporting Dalriada Trustees, one of the UK’s largest independent trustee firms, has selected Minerva Analytics to carry out vital duties for its pension fund clients related to the newly introduced implementation statement. Dalriada, which operates out of seven UK offices, has appointed Minerva to assess its external asset […]

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The US Impact Investing Alliance urges DOL to rethink ESG law

US investor group urges DOL to rethink ESG law The US Impact Investing Alliance has urged the Department of Labor to reconsider the introduction of a controversial law governing ESG in investment portfolios, asking them to suspend the rulemaking process until normality returns.  The group has written an open letter to the DOL, objecting to a proposed rule that would see severe restrictions imposed for US […]

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Top UK pension sets “net-zero” target The UK’s largest defined contribution pension scheme has set a goal of becoming net-zero on its carbon emissions by 2050 to avoid members retiring into a “world devastated by climate change”. Nest, the multiemployer scheme with more than 9 million members, has also committed to invest £5.5bn in climate […]

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