Shareholders “too powerful” says ICGN award winner

Peter Dey, the architect of Canada’s first corporate governance guidelines for boards, is convinced that the power of directors has been eroded on that  balance of power has shifted too far to shareholders on key issues.

Dey’s remarks were made in a speech at the ICGN annual conference this week after he received the Lifetime Achiever Award in recognition for his role in developing governance guidelines for companies on the Toronto Stock Exchange in 1994.… Read the rest

Remuneration reports are “unduly complex” say Australian directors

Remuneration reports  are “unduly complex, place a significant burden on companies and are of limited use to shareholders and other readers. At worst, they have become almost incomprehensible to even expert readers and can give a distorted picture of executive remuneration.” So says the Australian Institute of Company Directors (ACID).… Read the rest

Commission consults on Corporate Governance green paper

The European Commission has this week launched a consultation, in the form of a green paper, in preparation for taking measures to enhance corporate governance in financial institutions and remuneration policies.

It is significant that the Commission is keen to avoid killing the spirit of what it is trying to achieve by smothering it with compliance, putting emphasis on supervision rather than regulation.… Read the rest

FSA acts on asset segregation – hope yet for investors?

Yesterday’s news that JP Morgan has been hit with the largest fine ever handed down by the FSA might not appear to have any direct connection to shareholder stewardship, after all it wasn’t their securities servicing division found to be at fault.… Read the rest