In a recent edition of The Times, Financial Editor Patrick Hosking wrote an item entitled “Adviser is accused of mafia‑style shakedown” in which the business community raised concerns about the potential conflicts of interest in the governance services industry. It explained how ISS, the largest proxy voting adviser had developed a service which helps companies draft governance and voting disclosures in a way which improves the chances they will get the nod from shareholders.… Read the rest
The UK’s corporate governance landscape could be set for set for a wholesale changes after the Financial Reporting Council (FRC) announced a wide-ranging review of the corporate governance code. This will take into account the regulator’s recent work on corporate culture and succession planning, as well as the issues raised in the government’s green paper and the Business, Energy and Industrial Strategy parliamentary select committee inquiry.… Read the rest
The Organisation for Economic Co-operation and Development (OECD ) has published its due diligence guidance for responsible supply chains in the garment and footwear sector in line with the OECD Guidelines for Multinational Enterprises (MNE guidelines) and UN Guiding Principles on Business and Human Rights.… Read the rest
The latest corporate governance scorecard assessing listed companies in Hong Kong shows that improvement is needed and directors ought to stay up to speed with the latest corporate governance developments, according to the Hong Kong Institute of Directors.
The 2016 survey of 120 companies published this week found that when compared to the 121 firms assessed for the last survey in 2012 mean score had improved by 5.1% when the same criteria were compared.… Read the rest
The UK’s Work and Pensions Select Committee has used its response to the government’s green paper on corporate governance to emphasise that public and private companies need to ensure that their pension fund forms part of their corporate thinking.
News of Snap Inc’s pending IPO arrived too late for our usual weekly round-up, but no matter, now that the full implications of the disappearing photo-apps disappearing votes have started to sink in, we can take a moment to reflect on what this really means for investors and good governance.… Read the rest
The London Stock Exchange Group (LSEG) has issued guidance, through its Global Sustainable Investment Centre, setting out recommendations for good practice in Environmental, Social and Governance (ESG) reporting.
The LSEG said that the global guide responded to demand from investors for a more consistent approach to ESG reporting, which it said is now a core part of the investment decision process.… Read the rest
In the run up to the introduction of the UK’s remuneration regulations in 2012, the headlines and much of the political commentary suggested that shareholders were in need of extra powers to control executive pay. What the Thomas Cook vote has shown clearly, however, is that – in the UK at least – there is more than one way to make a point.… Read the rest
Travel company, Thomas Cook received a warning on pay this week at its AGM when the voting results showed that some investors at starting to take a joined up approach to remuneration-related voting. This is a signal to all companies seeking approval for their remuneration policies and new incentive plans this year that shareholders do not want the potential for excessive awards under these schemes.… Read the rest
The US Securities and Exchange Commission (SEC) is seeking comments from companies are encountering as they look to comply with the CEO Pay Ratio disclosure rule which took effect for financial years from 1st January 2017. The rule, hotly debated by business and investors alike, requests companies to disclose the ratio of the median of the annual total pay of all employees to the annual total pay of the chief executive.… Read the rest
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