January 29, 2010
Let it not be said that the geeky world of governance doesn’t have its lighter moments….
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January 29, 2010
The market for US compensation consultants is looking increasingly concentrated according to new research by ProxyGovernance.
Based on data for annual meetings held between Jan. 1, 2009 and July 1, 2009, five consulting firms – Towers Perrinand Watson Wyatt (now combined as Towers Watson & Co.), Frederic W. Cook & Co., Inc. Mercer LLC and …… continue reading >>
January 29, 2010
Amendments to ‘Broker Voting Rule’ yield unexpected results
The long-awaited change to NYSE Rule 452, effective Jan. 1, 2010, reclassifying uncontested director elections as ‘non-routine’ items, thereby eliminating the discretion of brokers to vote uninstructed shares, also makes it more difficult for companies with no routine matters on the ballot to achieve a quorum. Under …… continue reading >>
January 29, 2010
While shareholder resolutions and countermotions are still relatively rare in Europe, they are a core feature of the US market. Here Allie Monaco of ProxyGovernance has highlighted some of February and March’s more interesting proposals.
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January 28, 2010
Despite tumbling stock market valuations the impact of overseas shareholders in the UK stock market is greater than ever. This could have far reaching implications for the UK government’s attempt to beef up corporate governance.
According to figures released this week by the Office of National Statistics, non resident shareholders now account for 41.5% of UK …… continue reading >>
January 27, 2010
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 …… continue reading >>
January 27, 2010
While it is good news to see that Siemens’ shareholders have resolved to put the past firmly behind them, it is interesting to note the priorities of the Siemens’ PR team.
In most markets, proxy voting disclosure has reached a high standard enabling analysts to see the turnout trends. A high quality disclosure would typically include the disclosure …… continue reading >>
January 26, 2010
From Polly Peck to Satyam, recurring audit failures have undermined investor confidence in corporate governance. The Institute of Chartered Accountants in England and Wales and the Financial Reporting Council hope to address those concerns through its newly published “Audit Firm Governance Code”.
This comply or explain Code will apply to the eight largest U.K. accounting firms which collectively are responsible …… continue reading >>