The independent shareholders of Alphabet, Google’s parent company, overwhelmingly supported a shareholder resolution asking company management to recapitalise the share structure so that each share has one vote at its recent AGM (7th June).

The resolution was put forward

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The UK’s Financial Conduct Authority (FCA) has proposed a series of changes to improve the governance of fund managers, to strengthen their duty to act in the best interests of investors and to use its senior managers regime to bring …

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The UK’s Serious Fraud Office (SFO) has charged the banking group Barclays and four former executives with conspiracy to commit fraud and unlawful financial assistance given to the Qatar government when it provided funding during the 2008 financial crisis. This …

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The water sector regulator, Ofwat, has fined Thames Water the maximum automatic penalty it can of £8.55m for admitting in this year’s report and accounts that it will miss its leakage reduction targets for the first time 11 years. …

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The US House of Representatives has passed the controversial Financial CHOICE Act despite strong lobbying against the legislation by institutional investors. The bill will now move to the Senate where its expected to face tough opposition.

The Council of Institutional …

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Ukraine has adopted a long-awaited law which will improve the corporate governance of its joint stock companies (JSC) as well as the shareholder rights. Legal experts said that the changes will boost the prospects of foreign investment in Ukrainian companies …

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The US Council Institutional Investors (CII) and individual institutional investors have voiced their continued opposition to the Financial CHOICE Act, which has been proposed and passed by the House of Representatives’ Financial Services Committee.

The CII and over …

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The Pre-Emption Group has published a monitoring report looking at implementation of the 2015 Statement of Principles and the template resolutions. The principles relate to the when considering the case for disapplying pre-emption rights
Over the course of the year,
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The Financial Reporting Council (FRC) has commenced an investigation under its audit enforcement procedure into the conduct of KPMG, in relation to its audit of Rolls-Royce’s financial statements from 2010 to 2013.

The FRC’s investigation follows an …

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The UK’s Pensions Regulator, TPR, has issued new investment guidance for defined benefit pension schemes including  expanded duties on stewardship, sustainability, ESG and voting issues.

The guidance follows the common principles set out in TPR’s DC investment guidance together …

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