ESMA & Proxy – chasing molehills, missing mountains

ESMA has now released its final report on ‘The Proxy Advisor Industry’. It’s key recommendation, after long deliberation, is that  there is “no current market failure related to proxy advisors interaction with investors and issuers in the European Union (EU).”

This finding is very welcome, but to those in the industry, it doesn’t really come as a surprise.… Read the rest

Q:Why is proxy voting like a supermarket lasagne?

A: Suspect ingredients, lack of traceability, bad labelling and poor retailer accountability.

Read the rest

Shareblocking rears its ugly head – German AGMs at risk as foreign shareholders frozen out

Europe’s much heralded Shareholders’ Rights Directive (2007) was meant to put an end to share blocking and immobilization and give all shareholders, irrespective of their locale, the same rights to vote across borders with minimum fuss.  However, the best laid plans of regulators, shareholders and issuers appear to have been scuppered by the custodian banks, and not for the first time.… Read the rest