What progress on climate change?

In the run up to the United Nations Climate Change Conference in Copenhagen, SRI research specialists, EIRIS have published a new report focussing on 300 of the world’s largest companies to examine the progress they have made over the last 12 months in responding to the challenges of climate change. … Read the rest

SEC gets busy with bumper crop of enforcements

Judging by this week’s crop of enforcement stories, the US securities regulator, The Securities & Exchange Commission appears to be relaunching itself with renewed vigour. The week of August 3rd to 7th is probably going to go down in history as one of the Commissions busiest and most high profile weeks.… Read the rest

US Bill to limit exec pay voted through

US shareholders get say on pay at financial institutions – in exchange for more investor disclosure.

The US House of Representatives has passed Congressman Barney Frank’s bill to “amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation and to prevent perverse incentives in the compensation practices of financial institutions.” If brought into law, the Act would impose significant regulatory constraints on the executive pay arrangements of “covered financial institutions” (CFIs).… Read the rest

Women underrepresented on US boards too

A PROXY Governance review of Russell 3000 companies holding their 2009 annual meeting prior to July 1 reveals considerable disparity in female board representation across sectors. Overall, women make up 10.7 percent of directors in the Russell 3000, but just 5.6 percent and 5.1 percent of directors in the energy and semiconductor sectors, respectively.… Read the rest

Japan turns to overseas investors

Welcome news this week about Japanese corporate governance developments from Washington-DC based Council of Institutional Investors. Jonathan Urick, CII’s international governance policy co-ordiantor met with Makoto Seta and Toshiya Otsu of the Japanese Financial Services Agency (FSA) to discuss their agency’s ongoing efforts to improve corporate governance.… Read the rest

SEC Investor Advisory Committee gets to work

The SEC’s Investor Advisory Committee has kicked off its first meeting with an ambitious and far-reaching agenda.Sets Ambitious Agenda. At its inaugural meeting July 27, the committee, which includes institutional governance heavyweights Hye-Won Choi (TIAA-CREF), Mark Anson (Nuveen Investments), Abe Friedman (Barclays Global Investors), Dennis Johnson (Shamrock Activist Fund) and Damon Silvers (AFL-CIO), as well as the Council of Institutional Investor’s Executive Director Ann Yerger, agreed to consider the following broad spectrum of topics:
  • Fiduciary duty: Should all financial intermediaries who provide investment advice to their customers be subject to the same fiduciary duties, and how should those duties be defined?
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