The 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 MoreShareholders are getting used to Lord Myners, the UK’s Financial Services Secretary, exhorting them to act responsibly, but his speech at the National Association of Pension Funds recent corporate governance seminar reveals some new insights. Drawing on remuneration surveys from both sides of the Atlantic, Myners noted that in as little as a decade, executive […]
Read MoreLord Myners has supported calls for reform of the Takeover Code in the UK, but made it clear that “The owners of firms that have lost so much from ill-advised takeovers must generate the momentum for reform”. Myners was speaking at the public policy think-tank, The Smith Institute, where he laid out his most comprehensive […]
Read MoreThe UK Government and Treasury has, perhaps not entirely surprisingly, warmly welcomed Sir David Walker’s proposals for the reform of the corporate governance of UK banks. At the same time, Lord Myners, the Financial Services Secretary to the Treasury has given the market a strong steer on possible next steps for the proposed reforms, including taking them on to a global […]
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