Manifest urges SEC to overhaul the US proxy system

Manifest has written to the SEC in support of rule changes designed to eliminate uninstructed broker votes being used at director elections. The New York Stock Exchange had recently filed a request with the SEC to change Rule 452 which allows brokers to use client votes if no instructions have been received.… Read the rest

Short-termism hindering governance in emerging markets

A short-term outlook and portfolio turnover exceeding 100% per annum is inhibiting ESG integration finds new  research by Mercer,  the investment consulting firm. These findings are included in it’s recent report, Gaining Ground: Integrating Environmental, Social and Governance (ESG) Facors into Investment Process in Emerging Markets.… Read the rest

Canadian Teachers Governance Role Reduced?

One of Canada’s leading newspapers, the Globe & Mail, is striking the death knell for The Ontario Teachers’ Pension Plan’s role in promoting good governance in Canada.

Their gloomy analysis comes after the pension fund announced and 18% loss and a reduction in its Canadian stocks weightings in  by more than half.… Read the rest

RBS Vote Result Analysis

The resolution on the remuneration report at Royal Bank of Scotland Group plc represents the highest ever “Total Dissent” vote on the remuneration report since the introduction of the requirement for the report to be put forward to a non-binding vote.… Read the rest

Eddington re-election concerns at Rio Tinto

Sir Roderick Eddington will stand for re-election at the upcoming meetings of Rio Tinto plc and Rio Tinto Ltd, the two listed holding companies on the Rio Tinto group.

Manifest’s research report ahead of the AGMs have noted a number of concerns in respect of Sir Roderick’s position on the Boards.… Read the rest

Meggitt CEO’s underwater options to have exercise period extended

At the AGM of Meggitt plc, shareholders will be asked to amend the period following the cessation of employment during which options under Part B of the plan (the part not Inland Revenue approved) may be exercised. It is proposed to increase the period from the existing six months to two years.… Read the rest