Spanish “loyalty shares” draw central bank criticism

Spanish “loyalty shares” draw central bank criticism The Bank of Spain has emerged as part of almost unanimous opposition to its government’s proposed introduction of so-called loyalty shares for listed companies.   According to El Pais, in its response to a consultation on a new securities and finance bill, the central bank said it could see the potential drawbacks of the proposal much more clearly […]

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EU-wide task force appointed as NFRD reform gathers pace

European Commission pushes ahead with SRD II The European Commission will proceed with the implementation of the second Shareholder Rights Directive (SRD II), defying protests from some post-trade groups. As a result, the second phase of SRD II will come into force on 3 September 2020, as originally scheduled. The first phase of implementation saw […]

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Sec lending management key to better ESG

Sec lending management key to better ESG Managing securities lending policies in line with ESG goals, rather than halting them completely, should result in better outcomes for shareholders, research suggests. In recent months, asset owners had been quizzing fund firms over whether the practice of securities lending erodes long-term sustainability efforts. This followed a decision […]

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Pile of astroturf

SEC falls foul of proxy astroturf Did the SEC cite fake letters to support its proxy clampdown? The SEC’s attempts to impose tough new regulations on proxy advisers have taken a sinister turn following revelations its chairman has been citing fake investor letters in ‘support’ of its proposed changes. The Security and Exchange Commission’s (SEC) […]

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CEOs backing new governance statement cause a stir

CEOs backing new governance statement cause a stir When over 180 of America’s top CEOs signed a new corporate governance agreement that effectively eliminates shareholder primacy and commits to representing the interests of ‘all Americans’, the move was going to attract attention. The Business Roundtable, an association of chief executives of America’s leading companies, updated […]

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Applied Graphene Materials: Shareholders's concerns with the disclosures provided

AIM-listed Applied Graphene Materials holds its AGM on 18 December 2018 and with the elevated awareness of AIM governance standards, it’s worth taking a look at AGM’s AGM disclosures to better understand the differences between what’s expect of main and junior market companies. Good governance disclosures and financial reporting support open and effective dialogue between […]

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MJGleeson Group

FTSE SmallCap urban regeneration and land development specialist MJ Gleeson Group holds its AGM on 6 December and shareholders may hold concerns with the level of independence on its board. MJ Gleeson’s board consists of CEO & Managing Director Jolyon Harrison, CFO & Company Secretary Stefan Allanson, Chairman Dermot Gleeson, and non-executives James Ancell, Colin […]

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Hong Kong

The International Corporate Governance Network (ICGN) and the Asian Corporate Governance Association (ACGA) are urging institutional investors to respond to the latest consultation from the Hong Kong stock exchange which proposed allowing certain companies with dual-class share structures to list. The proposals form part of the stock exchanges aspiration to be a more attractive place to list […]

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CalSTRS Jana Partners Apple

Activist institutional investors, the public pension fund CalSTRS and Jana Partners, have begun a campaign calling on the technology giant, Apple, to consider the evidence that children that are excessively using electronic devices, such as its I-phone, may be damaged by this and to support parents to control their usage. In an open letter to […]

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Sports Direct AGM

In the run up to the Sports Direct AGM this week (6th September) there were calls for shareholders to vote against the re-election of its chairman, Keith Hellawell, amid concerns that he has not been strong enough in dealing with the governance concerns that have surrounded the retailer for the past two years. Having said […]

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