“The investing community desires change”. Not something we weren’t aware of, surely? However, when it’s a summary of the almost unanimous response to the most comprehensive regulatory review of the US proxy system the SEC has undertaken in 30 years, this finding is highly significant. In short, the Securities Transfer Association analysis of the 199 […]
Read MoreCentamin Egypt, the Australian incorporated gold mining company which entered the FTSE 250 index in June 2010, will hold its AGM on 9 November in London. At its 2009 AGM the remuneration report vote was defeated, however shareholders will not get an opportunity to vote on the remuneration report in 2010. The reason is that […]
Read MoreThe European Commission has this week launched a consultation, in the form of a green paper, in preparation for taking measures to enhance corporate governance in financial institutions and remuneration policies. It is significant that the Commission is keen to avoid killing the spirit of what it is trying to achieve by smothering it with […]
Read MoreComing so late in the life of the current parliamentary term, the City may be forgiven for already turning attention from yesterday’s budget statement to post-election budgetary announcements for substantive financial and fiscal policy developments. However, hidden in the text of yesterday’s Budget Report is a potentially highly significant statement, which could make voting disclosure a […]
Read MoreThe European Commission has recently announced it intends to initiate processes for taking action against EU Member States over implementation of the Shareholders Rights Directive (SRD). The Directive, which was passed in 2007, establishes Europe-wide principles for ensuring certain basic rights of shareholders at European listed companies. These rights relate to improved registration, participation and information rights […]
Read MoreIn a move highlighting the changing landscape of shareholder-company relations in Germany, two DAX 30 constituents are meeting with investors in advance of the first shareholder votes on executive pay. Top executives from Siemens AG and Thyssen-Krupp AG — which will convene AGMs on 26 January 2010 — will huddle with several key investors today, with executive remuneration likely to be a point of […]
Read MoreWhilst 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 […]
Read MoreAlthough the EU Shareholder Rights Directive was meant to have been fully implemented by 3 August 2009 at the latest, Italy is only just now mulling over shareholder responses to its the second consultation which was launched on 24 July 2009 and closed on 18 September 2009. Over 20 consultation responses have been published, with […]
Read MoreNorthern Rock’s former shareholders have lost their bid for a judicial review of the nationalisation compensation scheme but have vowed to press their claims in the the House of Lords and, potentially, the European Court of Human Rights. The House of Lords appeal could be heard in summer 2010 but an appeal to the European Court could take […]
Read MoreSir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact. Many of the […]
Read More