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The attack on shareholders by Bill Winters, chief executive of Standard Chartered, for opposing remuneration at the recent shareholder meeting was as unwarranted as it was surprising.While it could easily be dismissed as an individual’s ego bruised by the concerted opposition of nearly 40 per cent of proxies cast against his pay, the wider issues it raises should not be overlooked.
Tags » International Corporate Governance
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An incoming Labour government would launch a public inquiry into Britain’s financial industry to “reveal and root out corruption”, under a plan being drawn up by shadow chancellor John McDonnell.
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President Emmanuel Macron of France and Prime Minister Erna Solberg of Norway convened a roundtable discussion with the One Planet Sovereign Wealth Fund Working Group (“One Planet SWF Group”) at the Elysée Palace followed by a press conference, to mark the publication of the One Planet Sovereign Wealth Fund Framework (“the Framework”).
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The introduction of both a Stewardship Code in 2014 and a Corporate Governance Code a year later in Japan has pushed investors to focus more on the governance standards of the companies they’re invested in and forced companies to make changes – particularly when it comes to appointing independent directors to the board.
New UK Rules for Improving shareholder engagement and increasing transparency around stewardship | FCA
The UK’s Financial Conduct Authority has issued new rules for institutional investor fiduciaries that impose new requirements for engagement and disclosure:
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We have introduced new requirements to improve shareholder engagement and increase transparency around stewardship.
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The insurer Standard Life Aberdeen has suffered a bruising shareholder revolt over the pay of its new finance chief, with more than two-fifths of investors voting against its remuneration report.
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More listed Japanese companies are scaling back takeover defenses in response to mounting criticism from investors, who view the measures as protecting management.As of May 21, 342 Japanese companies had anti-takeover measures in place, 44 fewer than at the end of 2018 and a 40% drop from the peak in 2008, according to Recof, a Tokyo-based advisory company.