RSM US fined by SEC for violating auditor independence rules

RSM fined $950k for independence breach Accounting firm RSM US has been fined $950,000 by the Securities and Exchange Commission (SEC) for violating the auditor independence rules. RSM US, a member firm of the RSM International (RSMI) network with more than 80 offices across the country, was judged to have violated the strict rules when […]

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Law Commission opens consultation on intermediated securities The Law Commission has published a call for evidence on intermediated securities, the first step in a scoping study, and asked stakeholders for their views and experiences. With the intention of informing public debate and to develop a broader understanding of options for reform, the scoping study focuses […]

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CEOs backing new governance statement cause a stir

CEOs backing new governance statement cause a stir When over 180 of America’s top CEOs signed a new corporate governance agreement that effectively eliminates shareholder primacy and commits to representing the interests of ‘all Americans’, the move was going to attract attention. The Business Roundtable, an association of chief executives of America’s leading companies, updated […]

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Exxon pressurised witnesses in climate case

Prosecutors allege Exxon pressured witnesses in climate case US prosecutors have accused Exxon Mobil of harassing investors and intermediaries in the lead up to a forthcoming court battle over whether the energy giant deliberately misled people on the cost of climate change to its business. A lawyer for the New York Attorney General has called […]

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Andrea Leadsom leader of the House of Commons

HMRC loses chief to new audit watchdog as Leadsom means business The chief executive of Her Majesty’s Revenue and Customs service has been confirmed as the person to lead the Financial Reporting Council into the refreshed entity the Audit, Reporting and Governance Authority. Sir Jonathan Thompson, who has led HMRC for a little over three […]

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Internal Audit Code of Practice

Draft code aims to boost internal audit standards A draft code has been launched by the Chartered Institute of Internal Auditors that makes 30 recommendations to strengthen corporate governance. The Internal Audit Code of Practice has been developed by an independent steering committee, set up by the Chartered IIA to help reduce the risks of […]

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Blue Prism Group: LTIP structure around performance shares award

Blue Prism Group is overhauling its remuneration structure for the coming year with an increase in pay opportunity and the introduction of new long-term incentive awards. As Blue Prism is listed on AIM the company is not required to put its forward-looking remuneration policy to shareholders for approval, although they are offered a non-binding vote […]

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AIM & remuneration disclosure: still room for improvement

AIM & remuneration disclosure: still room for improvement Unlike their main market peers, AIM companies are not obliged to follow the detailed legislation surrounding executive pay practice. After AIM Rule 26 was changed in March 2018, they now just have to disclose which governance code they follow. For many, that will be the QCA Governance […]

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Sage Group: New remuneration policy in response to strategy focus

Sage Group: pensions down, shareholdings up FTSE 100-listed accountancy software provider Sage Group plc holds its 2019 AGM on 27 February at which a new remuneration policy will be put to the shareholder vote. The policy was last approved at the 2016 AGM and received 97% shareholder support. Sage’s Remuneration Committee has highlighted three key […]

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TUI AG: shareholders will note deviations from certain UK good governance practices

TUI AG: Board view deviations from UK governance practice as necessary TUI AG holds its 2019 AGM on 12 February and shareholders will note deviations from certain UK good governance practices. This is due to TUI having a primary listing on both the German Stock Exchange and the London Stock Exchange. TUI states that while […]

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