British banks agree to G20 bonus curbs

After weeks of will they, won’t they and political horse-trading Britain’s top banks have committed to implement the remuneration reforms agreed by the G20 in Pittsburgh.

The five banks, Barclays, HSBC, Lloyds, RBS, and Standard Chartered – have confirmed their commitment to comply with the Financial Services Authority’s remuneration rules, which comes into force on 1 January 2010. In a joint statement, the More…

Malaysia: good principles, weak implementation

Ken Rushton, former head of the listings review at UK regulator the Financial Services Authority, has challenged Malaysia’s corporate governance regime. Speaking at the Corporate Governance Summit 2009 he outlined his concerns about the discrepancies between the regulatory principles and their practical implementation.

Speaking to a Malaysian business journalist from The Star Rushton said the More…

Iraqi Stock Exchange considers governance

The Iraqi Stock Exchange (ISX) is making preparations to launch a corporate governance project and to create an online trading presence, the executive director of the stock market has announced. “A corporate governance project will be carried out through appropriate legislation that regulates the company’s administration, responsibilities and duties…,” Taha Ahmed Abdulsalam told Aswat al-Iraq news agency. More…

ITV listens to shareholders

The Nominations Committee of the Board of ITV plc has terminated its discussions with CEO candidate Tony Ball, bringing to an end the speculation about a potential £30 million salary package.

In a regulatory news announcement published at 12:36pm today (25th Sept 2009) the Committee said that it had “negotiated exhaustively with Mr Ball, and throughout has been fully cognisant of, and More…

NASDAQ looks for input on comply or explain

The NASDAQ Hearing and Listing Review Council is soliciting comments from companies, investors and other interested parties about whether it should adopt a “Comply or Explain” approach to corporate governance practices similar to that used in a number of non-U.S. markets writes Scott Fenn of Manifest’s US partners, ProxyGovernance Inc.

The exchange says that this model can More…