Hot Issues Archives

SEC: No proxy for proxies

The SEC this week weighed into the proxy advisor debate with Staff Legal Bulletin 20, which provides information on the proxy voting responsibilities of investment advisers (i.e. professional investors) as well as clarification on the exemptions from federal regulation …

Canada weighs in proxy analysts, more missing of “the point”

April is probably not the ideal month to launch a consultation for anyone involved in corporate governance, nevertheless the Canadian Securities Administrators (CSA) issued a call for comment on its proposed best practice guidance for the proxy research industry. The …

FRC asks for more engagement; proceed with caution

As we tweeted last week it’s AGM season, so that means it’s time for more consultations. Consultations are generally a good thing, even if the timing is a little inconvenient for shareholders. This article takes a look at the key …

EU Shareholder Rights Directive Part II

The European Commission has published its formal proposal for the much-leaked update to the 2007 Shareholder’s Rights Directive. It forms a part of the “road map” for the Commission’s 2012 company law and corporate governance action plan which is …

Inundated with the wrong PRI-orities?

As we approach the busiest time of year for those of us involved in share voting, it will come as little comfort that the current round of PRI reporting is weighing heavily in investor in-boxes.

It includes requirements relating to …

The trouble with proxy advisors….

Is that everyone loves to hate them but, investors at least, can’t actually do their jobs without them. If we didn’t exist we’d have to be invented. So, what’s to be done?

Yes, true, that …

The Source of Stewardship’s Woes?

It hardly comes as a surprise that two in five UK plcs find that proxy analysts have a so-called “negative influence” on the relationship between companies and their investors (Financial Times: “Proxy agencies fail to tick boxes” July 1, …

Going Dutch on Shareholders Rights

Probably the most un-noticed consequence of the battle around the ill-fated Royal Bank of Scotland acquisition of ABN-AMRO has been the subsequent limitation of shareholders’ rights in the Netherlands.

At the start of July a number of significant amendments Dutch …

Farewell Bond, will Dimon be forever?

It’s being quite a few days for corporate governance. First, the unprecedented (at least since our records began in 1996) shock yesterday of Sir John Bond’s ejection as Chair of Glencore Xstrata, whilst in the same week, the PR chicanery …

Audit, competition and serving shareholders

Last week, the UK Competition Commission published its provisional findings in its investigation into the provision of statutory audit services in the UK. Unsurprisingly, the findings show that there are obstacles to competition, as if we didn’t know that already. …