Regulation Archives

CalPERS clear the decks for increased activism

The California Public Employees Retirement System (CalPERS) has signalled a move into more direct activism after a vote this week (Monday) to remove a cap on the number of shareholder proposals it can issue.

Until now, the $200 billion fund …

Exec Pay: Aussie Rules gets tough but fair

Australia is proposing some innovative steps to address concerns about executive pay. This week, the Productivity Commission released a detailed discussion document outlining a series of reforms which it hopes will improve board accountability, remove conflicts of interest and enhance …

Brussels turns attention to unfair ‘tying’ practices in Financial Services

With shareholder engagement moving ever higher up the (potentially) regulatory and market best practice agenda, voting is likewise coming under the spotlight. In recent days, we have seen the unexpected result of the Infineon AGM provoke concerns about ‘irregularities in …

Luxembourg publishes revised governance code

The Luxembourg Stock Exchange has published a revised edition of its Ten Principles of Corporate Governance for listed companies. The new code has maintained the original structure of the ten principles by continuing to rely on three sets of rules: …

Manifest welcomes FRC’s role in Stewardship Code

Manifest has welcomed the Financial Reporting Council’s role as the new guardian of an institutional investor Stewardship Code but has proposed that the Code itself should be the subject of its own consultation rather than a simple grandfathering of the …

SEBI calls for mutual fund proxy disclosures

The Securities and Exchange Board of India (SEBI) this week (16/03/2010) asked mutual funds to disclose their proxy voting procedures on their websites and in their annual reports with effect from the 2010-2011 fiscal year.

Additionally it has asked funds …

FRC consults on Stewardship Code

The Financial Reporting Council (FRC), the UK’s corporate governance regulator, wants to hear from institutional investors in the UK and overseas about its proposals for a new “Stewardship Code” aimed at creating best practice principles for investors when engaging with …

Increase in non-Big Four auditors in FTSE 350 stalls

The FRC has published its Fourth Progress Report on the implementation of the MPG recommendations on promoting choice in the UK audit market. In October 2007, the MPG published 15 recommendations intended to allow the audit market to work
more …

Iraqi Stock Exchange considers governance

The Iraqi Stock Exchange (ISX) is making preparations to launch a corporate governance project and to create an online trading presence, the executive director of the stock market has announced. “A corporate governance project will be carried out through appropriate …

US Senate reveals draft governance reforms

The US Senate has revealed its proposals to overhaul the American financial system through Senator Christopher Dodd’s “Restoring American Financial Stability Act of 2010”.

Across 1,336 pages the Bill outlines a series of remedies which it states will end “too …