Cause of the Crash #39

The BBC’s Robert Peston has picked up on founding FSA chairman, Howard Davies’ critique on the causes of the Crash. According to Davies there were a total of 38 reasons. Peston goes on to argue that there were probably 39 if you take into account the proposition forwarded by Tim Bush, former fund manager for the Hermes Focus Fund and member of the Urgent Issues Task Force of the Accounting Standards Board (ASB) that is was untested accounting standards which undermined prudent bank financial governance.… Read the rest

US Proxy Plumbing – the lobbying gets serious

Just as the governance community is beginning to feel it might explode if another consultation comes its way, the battle for regulatory attention over the parlous state of the proxy system is hotting up in the US.

Computershare, the global securities service provider has weighed in with the launch of a website to raise awareness about what’s at stake.… Read the rest

NYSE Euronext Governance Report – a move to principles

NYSE Euronext has flagged a move away from a prescriptive rules-based governance regime to a market-based, principles approach. After a year long investigation headed by Larry Sonsini, chairman of Wilson Sonsini Goodrich & Rosati, the NYSE Commission on Corporate Governance has published ten key principles for what it calls “solid governance”.… Read the rest

Manifest & Partners Stewardship Code Disclosure

 

Manifest and strategic partners GES Investment this week submitted their joint Stewardship Code disclosure to the UK’s Financial Reporting Council.

Here is the full text of our Stewardship Code Disclosure, together with a PDF copy:

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Manifest forms strategic ESG partnership

Two of Europe’s leading independent investment service providers within their fields, GES Investment Services and Manifest Information Services, today announce that they have formed a strategic partnership. Bringing together specialist research in environmental, social and governance issues with global proxy voting services, they present a fully-fledged European solution for Responsible Investment.… Read the rest

French companies improve corporate governance disclosures

The findings of the 2010 AMF report on the corporate governance of listed companies, based on a sample of 60 companies (34 in the CAC 40 and 26 in the SBF 120), show improvements both in practices and in transparency with regard to corporate governance and executive compensation.… Read the rest