The Institutional Investor Council (IIC), the successor body to the Institutional Shareholders’ Committee (ISC), has started to lay out its stall on possible work programmes. Speaking at the IMA’s annual dinner in the City of London this week, Douglas Ferrans, IMA chairman, outlined his vision of how the IIC would tackle the “endlessly complex” conflicts of […]
Read MoreThe California State Teachers’ Retirement System (CalSTRS), the second largest public pension fund in the United States, has endorsed the Stewardship Code for institutional investors, becoming the first US-based fund to back the policy, which it called a “standard for good corporate governance.” The Stewardship Code, for which the FRC is to take reponsibility for […]
Read MoreThe prospect of a new Stewardship Code appears to have re-ignited fresh enthusiasm for collaborative governance with the Institutional Shareholders Committee (ISC) announcing its intention to form a new body, to be called the Institutional Investor Council. The grand aim of the ISC creating the IIC is to “build a single voice for the institutional investor […]
Read MoreThe UK’s Institutional Shareholder Committee (ISC) has issued as pre-emptive strike against potential legislation from the Walker Review with the publication of a voluntary code of conduct for its members. The “Code on the Responsibilities of Institutional Investors” outlines seven principles of shareholder engagement and stewardship which, like the Combined Code, will be applied on […]
Read MoreLord Myners, the UK Treasury’s Minister for the City has again called for a radical new approach to financial reform – this time it’s investors under the spotlight. In recent months Myners has been no stranger to controversial proposals and during a speech to a conference hosted by UBS, he outlined his concerns about the way corporate […]
Read MoreThere’s no small irony that Lloyds Banking Group will be asking 2.8 million private shareholders to back its £13.5 billion fundraising, the biggest deal of its kind in UK history, on the same day that Sir David Walker makes his final recommendations to Her Majesty’s Government on how the governance of the UK financial sector […]
Read MoreThe Investors Working Group, a bi-partisan panel of experts created in February 2009 by the Council of Institutional Investors and the CFA Institute Centre for Financial Market Integrity, has released its recommendations for reform and modernisation of the US financial markets. According to the report, strengthening existing regulatory agencies, closing gaps in the regulatory structure, […]
Read MoreSir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact. Many of the […]
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