The UK’s Purposeful Company Task force, set up by the Big Innovation Centre, has called for major changes in corporate governance, asset management and backed the Financial Reporting Council’s proposal for company’s to report on how directors are having regard to stakeholders as required under company law. The task force said its work builds on evidence […]
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An Italian shareholder association has been formed to protect the group minority, with a particular focus on listed small and medium-sized enterprises (SMEs). The Italian Association for the Exercise of Shareholders’ Rights, AIEDA, has been set up by a group of professionals, managers and entrepreneurs with the aim of promoting good corporate governance and facilitating dialogue between listed companies directors […]
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The US has moved a step closer to a national stewardship and governance code with the launch of the Investor Stewardship Group. The signatories and supporters of the $17 trillion group are now urging all institutional investors to join the framework. The framework includes a set of six corporate governance principles for companies to follow and six stewardship […]
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The Insurance Regulatory and Development Authority of India (IRDAI) has published a draft stewardship code for insurers in their role as institutional investors managing funds on behalf of policyholders. The IRDAI said: “Considering the fiduciary role played by the insurance companies as investors on behalf of the policyholders, it is felt that greater transparency is needed as […]
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Peter Damgaard Jensen, chief executive of the large Danish pension fund manager PKA has become chairman of the Institutional Investors Group on Climate Change (IIGCC). Jensen took over from Donald McDonald, who has also retired from his post as a BT Pensions trustee director, at the beginning of the year. The IIGCC currently has over 130 […]
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The Pensions and Lifetime Savings Association (PLSA), the membership body for UK’s pension funds, has published its AGM Season Report 2016, focusing on executive pay using data provided by Manifest. A survey of PLSA members for the report found that 87% of respondents believe executive pay is too high. A majority – two-thirds (63%) – of the 87% believe […]
Read MoreMembers of the UK’s largest occupational pension fund, Universities Superannuation Scheme (USS) and the National Union of Students (NUS) have demanded an end to investments which breach the UN’s Controversial Weapons Convention, such as cluster munitions and landmines. The petition, signed by over 3,000 scheme members, was coordinated by Ethics for USS with support from ShareAction and the NUS. It […]
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Most of the largest Australian superannuation (super) pension funds are adopting some form of responsible investment according to a survey by the Responsible Investment Association of Australasia (RIAA). The RIAA said its Superfund Responsible Investment Benchmarking Report involved a detailed assessment and survey of the largest 50 superfunds in Australia which accounts for around $1.3 […]
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The UK’s Financial Reporting Council (FRC) has revealed its first Stewardship Code tiering. For the first time, asset manager laggards have been threatened with de-listing; those in the lower tier 3 have been six months to improve. There are nearly 300 signatories to the Code, more than 120 are in the top tier 1, an increase from approximately […]
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Huge response to BEIS Select Committee The UK’s Parliament’s Business, Energy and Industrial Strategy (BEIS) select committee has reported a larger than usual response to its request for written submissions to its corporate governance inquiry. Responses by the main industry bodies and interest groups, firms – including Manifest – together with individual submissions from academics […]
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