A private Member’s Bill was submitted to the Canadian Parliament this week by Robert Oliphant, MP, calling for amendments to the Pensions Benefits Standards Act, 1985, requiring public and private pension plans to disclose considerations given to environmental, social or governance factors during the selection, retention, or liquidation of investments under the plan’s responsibility. The […]

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Whilst the future shape of shareholder engagement responsibility is debated in London, Brussels and across continental Europe, the debate in Dublin is a fierce as anywhere. In what is traditionally a very close-knit investment and business community, the Irish Stock Exchange (ISE) and the Deputy Prime Minister participated in a full and frank exchange of views […]

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Australia’s Productivity Commission will submit its final report on executive remuneration to the Federal Government on 19 December. The Productivity Commission was asked to undertake a public inquiry into the regulatory framework around remuneration of directors and executives of companies regulated under the Corporations Act. It was asked to make recommendations on how the existing […]

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Companies and financial institutions around the world have express strong levels of support for many of the key components of financial regulation reform proposed by governments in the United States and Europe, according to new research published this week by Greenwich Associates. Greenwich surveyed 458 large companies and financial institutions in North America, Europe and […]

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The California Public Employees Retirement System, or CalPERS, is the US’s largest pension fund which provides retirement benefits to 1.6 million public employees. It’s also one of the most active proponents of good corporate governance on both a domestic and global stage. The latest target of their ire is the credit rating industry which it […]

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The US Chamber of Commerce’s Center for Capital Markets Competitiveness conference convened this week to look at the impact of shareholder activism and shareholder rights. Two interesting themes have emerged from reports of the conference, firstly research into the impact of shareholder resolutions and secondly comments from SEC Commissioner Troy Paredes criticizing the SEC’s proposal’s […]

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The US  Treasury has announced the appointment of  a “special master” to oversee executives’ compensation at U.S. companies receiving large amounts of government aid, with the power to reject pay plans deemed excessive. Kenneth Feinberg, a lawyer who oversaw payments to families of victims of the Sept. 11, 2001, terrorist attacks, will review the compensation […]

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The public inquiry into the regulatory framework around remuneration of directors and executives of companies regulated under Australia’s  Corporations Act continues and a draft report is in preparation. Some 79 initial submissions have received by the Productivity Commission inquiry. Public hearings will be held in Sydney, Melbourne and Brisbane during June and July 2009. Some […]

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The Swiss Financial Markets Supervisory Authority (FINMA) has opended the consultation period for the Circular on Remuneration Systems, which is expected to enter into force on 1 January 2010. The Circular will have a direct impact on the remuneration systems of the financial institutions concerned. The Circular will aim to ensure that remuneration systems do […]

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If  Democratic New York Senator Charles ‘Chuck’ E Schumer has his way, shareholders of US-quoted companies can expect to see their ownership rights significantly enhanced. Schumer’s move was flagged in late April but reports are coming in that the Bill will be presented this week. Schumer’s Shareholder Bill of Rights Act of 2009 has a very clearly stated goal: […]

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