Board gender pay gap revealed in Singapore

Singapore board diversity

More evidence of board gender diversity challenges were recently revealed, this time in Singapore. Female directors at companies listed on the Singapore Stock Exchange (SGX) are paid 56.8% of male directors’ remuneration on average indicating a 43.2% pay gap according to research by the National University of Singapore’s (NUS) Business School.… Read the rest

US Business Roundtable supports Dodd Frank reform

Business Roundtable | BRT

The Business Roundtable (BRT), an association of the top US chief executives, has voiced its support for President Trump’s plans to reform Dodd Frank and has outlined a number of corporate governance regulations that it believes need reform or to be repealed.… Read the rest

Lafarge admits to failings in firm’s abandoned Syrian operations

LafargeHolcim Syrian operations

Building materials supplier LafargeHolcim has admitted to failings by company bosses running its Syrian cement plant. They engaged in dealings with armed groups as they sought to protect employees as the area became increasingly dangerous as a result of the civil war.… Read the rest

Yahoo CEO gives up bonus over 2014 cyber security breach

Yahoo CEO cyber security data breach

Marissa Mayer, Yahoo chief executive, has lost her 2016 cash bonus and forgone her 2017 equity award after an investigation found that executives at the technology company were aware of a cyber security data breach in 2014 but did not actively investigate the incident.… Read the rest

FSB assesses post-financial crisis reform and climate-related disclosure progress

Financial Stability Board crisis reforms Climate-related Financial Disclosures

The Financial Stability Board (FSB) backed by the G-20, assessed reforms introduced following the financial crisis of 2008, its work on financial technology, financial sector misconduct and climate-related financial disclosures in a meeting held at the end of February.

The FSB promotes global financial stability by coordinating the development of regulatory, supervisory and other financial sector policies and conducting outreach to non-member countries. … Read the rest

Purposeful Company Task Force: Corporate governance reform could boost UK economy

UK corporate governance

The UK’s Purposeful Company Task force, set up by the Big Innovation Centre, has called for major changes in corporate governance, asset management and backed the Financial Reporting Council’s proposal for company’s to report on how directors are having regard to stakeholders as required under company law.… Read the rest

Countries should follow France’s lead on corporate accountability

The European Coalition for Corporate Justice (ECCJ), along with the French corporate accountability platform, Forum Citoyen pour la RSE, has called for European countries, EU institutions and the wider international community to follow the lead of France which has established  a duty of vigilance obligation for parent and subcontracting companies.… Read the rest

S&P 100 companies increase disclosure on investor engagement

Nearly half of S&P 100 companies included information in 2016 that showed how they responded to shareholder concerns and made changes to policies, according to a new report from US corporate adviser, Equilar.

 

In 2016 42% of S&P 100 companies included disclosures in their proxy statements on how they modified their practices after engaging with shareholders compared to just 14% in 2012.… Read the rest

UK auto enrolment pension provider NEST responds to climate change

United Nations Environment World Bank sustainable finance

The UK auto enrolment pension scheme provider NEST has adapted its investment approach so that its default fund is invested in a new fund that responds to the challenge of climate change. This will be managed by UBS Asset Management and has been developed in partnership with the NEST in-house team.… Read the rest

UK’s FRC asks for more governance powers

Stephen Haddrill

The UK’s Financial Reporting Council (FRC) has argued that it needs more powers to take enforcement action against directors so that it can investigate and prosecute all directors for financial reporting breaches and associated issues of integrity, rather than only accountants and actuaries as at present in its response to the government’s green paper on corporate governance.… Read the rest

Italian shareholder association formed to protect investors

Italian shareholder association formed

An Italian shareholder association has been formed to protect the group minority, with a particular focus on listed small and medium-sized enterprises (SMEs).

The Italian Association for the Exercise of Shareholders’ Rights, AIEDA, has been set up by a group of professionals, managers and entrepreneurs with the aim of promoting good corporate governance and facilitating dialogue between listed companies directors and minority shareholders as well as the exercise of their rights.… Read the rest

FRC: Wide-ranging review of UK corporate governance code launched

FRC UK chairman announces review of corporate governance code

The UK’s corporate governance landscape could be set for set for a wholesale changes after the Financial Reporting Council (FRC) announced a wide-ranging review of the corporate governance code. This will take into account the regulator’s recent work on corporate culture and succession planning, as well as the issues raised in the government’s green paper and the Business, Energy and Industrial Strategy parliamentary select committee inquiry.… Read the rest