Regulation Archives

Culture is important for getting corporate governance right

Achieving good corporate governance and behaviour must go beyond codes and towards developing the right culture across organisations and the leaders of companies must be integrated into that culture, according to Sir Wim Bischoff chairman of the Financial Reporting Council …

UK consults on EU Non-Financial Reporting Directive

The UK government is consulting on how to incorporate the EU’s Non-Financial Reporting Directive into UK law and into the UK’s current company reporting framework. This amends an earlier directive and requires companies, with more than 500 employees, to disclose …

GSK fined for anti-competitive behaviour

Pharmaceutical giant, GlaxoSmithKline (GSK), has been fined £37.6m by the UK’s Competition and Markets Authority (CMA)for making illegal payments to companies to delay their rival medicines entering the British market. Smaller fines were also imposed on the other pharmaceutical companies …

Morgan Stanley pays for misleading investors

Investment bank Morgan Stanley has agreed a $3.2 billion settlement with the New York Attorney General, Eric Schneiderman over the bank’s deceptive practices, in respect of residential mortgage-backed securities (RMBS ), leading up to the 2008 financial crisis.

The investigation …

UK parliamentary scrutiny of Google tax deal

Global technology Google continues to be in the spotlight over its £130m tax deal with the UK authorities. The UK parliament’s Public Accounts Committee, which first looked into the issue of corporate tax deals in 2012, has held a session…

UK government addresses the gender pay gap

Ensuring women get promoted to senior positions and receive higher bonuses should form part of the strategy to ensure that the gap between the pay of women and men is closed, according to a report produced by Deloitte and sponsored …

SEC fines Monsanto $80million for accounting violations

The US financial regulator, the Securities and Exchange Commission (SEC), has fined global agri-business firm Monsanto $80 million for violating accounting rules and misstating company earnings in relation to its flagship product Roundup. The company has also agreed to retain …

61 Russell 3000 companies failed Say on Pay votes in 2015

Analysis of the proxy voting at Russell 3000 company meetings last year found that 61 companies (2.8%) failed in achieving at least 50% support for their say on pay votes which have been compulsory in the US since 2011, according …

EU consults on investors and sustainability

The European Commission is consulting on on how institutional investors, asset managers and other service providers in the investment chain factor in sustainability (ESG) information and performance of companies or assets into investment decisions. The consultation will also gather information …

JKX Board ousted after defying UK Supreme Court over shareholder rights

JKX, the London-listed oil company has seen its entire board being replaced following years of questionable corporate governance and poor performance.

Proxima Capital, JKX’s third largest shareholder managed to secure over two thirds of the votes cast at a special …