Loading ...The Irish Stock Exchange is considering whether there should be a stand-alone Irish corporate governance code following revelations of governance shortcomings in the market. According to a new report by accountants Grant Thornton, Ireland has seen a sharp decline in compliance with the Combined Code with just over just over one third (36%) of
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Kraft is under investigation by The Panel on Takeovers and Mergers (the Panel) over allegedly misleading statements the company made to investors and employees during its five month takeover battle for Cadbury. According to reports in the Wall Street Journal, the Panel is looking into comments made by Kraft executives during the buyout regarding the The Takeover Panel has initiated a consultation on the Takeover Code. The Panel indicated that the decision to undertake the consultation was made in the light of recent commentary and public discussion, and suggestions for consideration from the Secretary of State for Business, Innovation and Skills and others. The consultation will focus on whether Japan’s Financial Services Agency has announced draft regulations aimed at improving corporate governance disclosures. With effect from March 31st 2010, companies will be required to disclose a detailed breakdown of individual pay for each executive earning more than ¥100 million ($1.1 million). Japanese companies currently voluntarily disclose the total amount of executive compensation in With shareholder engagement moving ever higher up the (potentially) regulatory and market best practice agenda, voting is likewise coming under the spotlight. In recent days, we have seen the unexpected result of the Infineon AGM provoke concerns about ‘irregularities in the voting process’. Manifest’s own investor conference in Paris in September 2009 demonstrated the importance to Whilst the future shape of shareholder engagement responsibility is debated in London, Brussels and across continental Europe, the debate in Dublin is a fierce as anywhere. In what is traditionally a very close-knit investment and business community, the Irish Stock Exchange (ISE) and the Deputy Prime Minister participated in a full and frank exchange of As the debate about the rights of shareholders to appoint their own nominees to US boards continues, the PROXY Governance (PGI) Hybrid Boards study, sponsored by the IRRC Institute, is appearing with increasing frequency in shareholder comment letters and other governance analyses regarding The governmental responses to the financial crisis have been many and varied with markedly different approaches being taken on both sides of the Atlantic. One common strand between the European and US administrations has been the role of institutional shareholders and their use – or otherwise – of voting rights to discipline management. In The report of the High Court Inspector into the affairs of DCC plc, S&L Investments Limited and Lotus Green Limited was published by order of the Court this week. The main events (previously covered in Manifest’s Agenda newsletter) preceding the initiation of this High Court Inquiry were as follows: August 1995: DCC and S&L entered The Financial Reporting Council (FRC), the UK’s corporate governance regulator, wants to hear from institutional investors in the UK and overseas about its proposals for a new “Stewardship Code” aimed at creating best practice principles for investors when engaging with the UK listed companies. The Stewardship Code is based on a set of principles originally |
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