Welcome to Manifest-I

Welcome to Manifest-I the blog of Manifest Information Services Ltd. Here we take a wide ranging view of topical governance and stewardship issues. Please feel free to add your comments and join the debate. Sign up to receive free weekly updates.

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Delivering Diverse Viewpoints

In the pursuit of secure investment returns, diverse viewpoints based on high-quality data and varied information are critical for portfolio construction. We believe that share ownership is no different. Manifest intelligently navigates the complexities of global governance and voting delivering actionable and defensible stewardship insights.

Manifest: showing, not telling

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Female representation on financial sector boards is growing

women boards diversity

A quarter of board directors at firms and organisations in the European banking and finance industry are women, and almost one in five (18%) executive committee (exco) members are female, according to recently published research conducted by the think tank New Financial.… Read the rest

UK Pre-Emption Group reviews Statement of Principles implementation

The Pre-Emption Group has published a monitoring report looking at implementation of the 2015 Statement of Principles and the template resolutions. The principles relate to the when considering the case for disapplying pre-emption rights
Pre-Emption Group:

Robert Swannell, Chairman of Marks & Spencer Group plc and the Pre-Emption Group

Over the course of the year, the template resolutions and the Statement of Principles have generally been followed.… Read the rest

President Trump begins rollback of Dodd-Frank

Donald Trump Paris climate change agreement

President Donald Trump signed an executive order on Friday (3rd February) seeking a review of the 2010 Dodd-Frank financial regulatory framework. At the same time President Trump has rescinded the Fiduciary Rule which was designed to eliminate investment advisor conflicts-of-interest in respect of retirement plans.… Read the rest

Manifest Statement on UK Government’s #Corpgov Green Paper

Manifest welcomes the Dept BEIS Corporate Governance Reform Green Paper which has been published today. Stakeholders are now faced with a very detailed and potentially far-reaching consultation which touches on a wide variety of topical issues. See Video https://goo.gl/Eb27h9

Manifest particularly welcomes the Government’s questions in relation to proxy advisors and other shareholder advisors who support investment managers and asset owners in their stewardship activities.  … Read the rest

GAO proxy advisor report goes to US Congress

The perceived influence of proxy advisors has grown in recent years, but the actual extent of that influence is still unclear. This is one of the findings from a new report produced by Government Accountability Office(GAO) at the request of US Congress members debating HR5311, the bill intended to roll back Dodd Frank reforms.… Read the rest

Cyber-security - a material investor risk

Cybersecurity Concept

New Manifest research shows board cyber-security risk gaps

As global economies become more digitally dependent, the continuing rise of cyber-security threats and actual breaches raises serious questions for shareholders. If technology fails, it is no understatement to say that the impact can be immense. … Read the rest

Better governance - not tin ears

canstockphoto3458651

Set against a backdrop of stagnant economic growth and societal discontent with the political status quo, global investors and corporations face ever growing risks and challenges. Having initially stabilised the sinking ship in the immediate aftermath of the GFC, governments, regulators and institutions around the world are now turning their attention to the role of business and its role in supporting strong, healthy societies.… Read the rest

Wells Fargo's Stumpf resigns as ICCR demands reforms

John Stumpf, the chairman and chief Executive (CEO) of  troubled US bank Wells Fargo, has quit following admissions of fraudulent activities, including the opening of customer accounts without permission. Stumpf’s replacement as CEO is Tim Sloan, the company’s president and chief operating officer.… Read the rest

UK lays out post-Brexit #corpgov strategy

brexit-flags It is important for the UK to continue to retain its reputation across the globe for the trustworthiness of corporate reports and for audit quality which attracts investment, Sir Win Bischoff, the Financial Reporting Council’s (FRC) chairman said at the recent Financial Services Brexit Summit.… Read the rest

Speaking out against #corpgov censorship

As the US Presidential battle careers towards its conclusion, the day to day business of law creation proceeds in Washington DC. Of particular interest to investors, indeed anyone with an interest in good governance, is HR5311 the ‘‘Corporate Governance Reform and Transparency Act of 2016.’’

The brainchild of the US Chamber of Commerce’s Center for Capital Markets Competitiveness, former SEC Commissioner Daniel Gallagher (now working for a Washington lobby firm Patomak Global), Congressman Jeb Hensarling and Representative Sean DuffyH.R.… Read the rest