Shareholder-focused capitalism beginning to fray

BoE’s Haldane: Shareholder-focused capitalism beginning to fray

The Bank of England’s chief economist has questioned the UK’s corporate governance model – suggesting it should be overhauled to focus not just on shareholders but wider society, too.

During a speech at …

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Australian energy giant rocked by shareholder rebellion

Norwegian oil and gas giant Equinor is facing a significant showdown with investor activists as its bid to drill for oil in a well-known Australian beauty spot intensifies.

Under its proposals, Equinor wants to drill a 2.2km exploration well in …

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BHP faces shareholder anger over fossil fuel

Mining titan BHP is facing growing shareholder dissent over its close links with industry groups that support the fossil fuel industry – with over a quarter of its investors voting to end these affiliations. 

At the Anglo-Australian mining group’s AGM held last week, 27.07% of shareholders voted …

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Swedish Governance Code

Rise in companies deviating from Swedish governance code

The Board’s 2019 Annual Report, published this week, revealed that over a third (34 per cent) of companies that apply the Code reported at least one deviation in 2018, up from 29 …

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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 …

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COVID-19 Capital and Pay Response

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 …

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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 …

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BlackRock ups the pressure on Exxon Mobil

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 …

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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 …

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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 …

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