FTSE 100-listed Associated British Foods reported in its annual report that a subsidiary of the Group incurred political expenditure to the approximate value of £5,000 during the year. The Company has not disclosed any further details on the expenditure, such as the nature of the expenditure, for what purpose the expenditure was incurred, and what […]

Read More
GovernanceWatch: Kier Group

UK Governance Watch FTSE 250-listed Kier Group’s suffered a shareholder revolt at its 2017 AGM after 44.16% of shareholders opposed the approval of its remuneration report. The construction and services business also saw 21.24% of shareholders oppose its remuneration policy. The key cause for shareholder concern was the remuneration committee’s decision to award CEO Haydn […]

Read More
GovernanceWatch: JD Wetherspoon

UK Governance Watch At JD Wetherspoon shareholders may hold concerns with the level of independence on the board. At the conclusion of the FTSE 250 pub owner and operator’s AGM the board will comprise three executive directors, Chairman Tim Martin – the company founder and controlling shareholder – and four non-executive directors. Of the four […]

Read More
GovernanceWatch: SIG plc

UK Governance Watch SIG plc is holding a general meeting on 7 November in order to seek shareholder approval of a new remuneration policy and long-term incentive plan (LTIP). In the FTSE250 industrial group’s annual report it was reported that the remuneration committee was conducting a review of executive pay and consulting with shareholders and […]

Read More
GovernanceWatch: Hargreaves Services, Brooks MacDonald

UK Governance Watch At AIM-listed infrastructure group Hargreaves Services’ 2017 AGM around 20% of shareholders opposed the adoption of its remuneration report. Shareholders likely held concerns with the level of disclosures provided in the report regarding performance targets and the lack of director shareholding guidelines and clawback provisions. The disclosures on these policy aspects continue […]

Read More
Shariah governance

The Securities and Exchange Commission of Pakistan (SECP) has begun a consultation into draft Shariah governance regulations, which it said are a comprehensive set of requirements for the governance of Shariah-compliant companies and entities, Shariah-compliant securities and Islamic financial institutions under its jurisdiction. The concept of a Shariah-compliant company and security was introduced through provisions incorporated […]

Read More
MPs

UK MPs investigating the collapse of Carillion gave Steve Haddrill, Financial Reporting Council (FRC) chief executive, a grilling over the regulator’s role in recent years. In his evidence to the joint inquiry by the House of Commons’ Work and Pensions and Business, Energy and Industrial Strategy select committees Haddrill confirmed that the FRC had been […]

Read More
MPs

The House of Commons’ Work and Pensions and Business, Energy and Industrial Strategy Committees have launched a  joint inquiry into the collapse of construction firm Carillion. The select committees said they would be investigating how a company that was signed off by KPMG as a going concern in Spring 2017 could crash into liquidation with a […]

Read More
Hong Kong

Hong Kong’s Financial Reporting Council (FRC) has welcomed the governments plans to strengthen auditor oversight in Hong Kong. The Financial Reporting Council (Amendment) Bill 2018, will be introduced into the Legislative Council of Hong Kong for its first reading next week (24th January). Under the proposed amendments, the FRC will become Hong Kong’s independent auditor […]

Read More
Hong Kong

The Hong Kong Stock Exchange (HKEX) is to expand its listing regime in a bid to attract more companies from growing business sectors and to boost its competitiveness compared with other major financial centres. This follows a consultation which began in June which identified certain gaps within Hong Kong’s listing regime affecting its overall competitiveness […]

Read More