Proxy vote confirmations one step closer as UK publishes SRDII implementation plans The UK government has published the full text of its planned Shareholder Rights Directive (SRD II) legislation as it moves closer to bringing the new rules into law. Despite the country’s exit from the European Union, the UK has been working on incorporating […]
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Neuberger Berman commits to advance proxy disclosure Neuberger Berman has become one of the first major asset managers to commit to advance proxy voting disclosures. It announced this week that it would publicly state beforehand how it plans to vote on select proposals at upcoming AGMs. The initiative, called ‘NB25+’, will see the asset manager […]
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For some companies, the ability for shareholders to have a voice is a source of constant annoyance. For proxy voting agents, such as Minerva, understanding the rules of the game and where the lines are drawn is key. Shareholder rights and stewardship are protected by law. In the US for example, the Securities Exchange Act […]
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A war of words has broken out between investors and the Securities and Exchange Commission (SEC) following the regulator’s controversial proposal to amend its proxy voting rules. On 5 November, the SEC proposed new changes to how proxy advisory firms operate – with some criticising the move as a way to limit investors’ ability to hold public companies accountable. Under the proposed changes, proxy advisory firms would […]
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New website aims to prevent investor rights erosion With the SEC set to announce new rules on proxy voting this week, a new website has launched for organisations concerned about the erosion of investor rights. A quick browse of InvestorRightsForum.com shows why it deserves some attention. Backed by established names such as the Forum for […]
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Solactive makes strategic investment in European governance, sustainability and proxy voting firm, Minerva Analytics. Solactive announces the completion of a strategic investment in Minerva to accelerate growth of the electronic voting, stewardship and ESG research services firm. Following the deal’s completion, Minerva will build-out its research and client service capability through Solactive’s offices in Frankfurt, […]
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Four billion reasons not to fix the proxy plumbing Can the SEC resist the lobbying deluge and restore essential share ownership rights? Since the GFC, regulators have been working to make markets and economies safer. Part of that process has been to encourage market disruption by fostering better competition and increasing diversity. Now it’s time […]
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Unilever: Votes and Voices Proxy plumbing adds complexity to hotly-contested simplification plan The proposed Unilever vote in October is raising City eyebrows. When the CIO of a UK insurer takes to the pages of the financial media voicing concerns over a voting issue you know it’s serious. David Cumming, head of equities at Aviva Investors, […]
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In a recent article in the Sunday Times British entrepreneur, Paul Johnson criticised the voting recommendations made by proxy voting advisers – including the recent advice that he be removed from the board of Aim-listed hotel chain, Elegant. But Micheal Deakin, Manifest chairman has highlighted that the UK has set a better example of shareholder voting […]
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The Investment Association (IA), which represents the UK’s asset management industry, has launched its public register of listed companies which have had significant shareholder rebellions. The IA proposed its development in its response to the government’s green paper on corporate governance in 2016 and was asked to go ahead with the launch of the government’s […]
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