Combined Code consultation responses now available

The Financial Reporting Council (FRC) has published the responses to its recent consultation on the UK’s corporate governance code. A total of 117 responses have been made available, of which 37 are from quoted companies directly and 14 from investors directly. The overwhelming majority have been sent from either trade association or professional groups. Overseas representation More…

Spain to keep voting caps - for now

Moves in the Spanish parliament to abolish the 10% voting caps at certain Spanish companies have ground to a halt ahead of Friday’s Iberdrola AGM.

Spain introduced limitations to voting rights in 1951, directly copying a similar German law, with a view to protecting minority shareholders from dominant shareholders. In 2006 the “Unified Code of Corporate Governance More…

FRC argues value of better engagement

Conference key note speeches came thick and fast at the ICGN’s London conference at the Guildhall this week. The three leading actors in the UK’s governance reform, Sir David Walker, Lord Myners and Sir Christopher Hogg each presented their individual perspectives to a global audience keen to hear what the UK has to offer the stewardship debate.

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AFL-CIO Releases 2010 ‘Key Votes’

The AFL-CIO has released its key votes list for the 2010 proxy season – naming proposals at 27 companies. The key vote survey rates the voting practices of investment managers by surveying how they voted on certain proposals identified by the AFL-CIO as representing a worker-owner view of value, which emphasizes management accountability and good corporate More…

Budget: Mandatory vote disclosure? Who will take hold of the wheel?

Coming so late in the life of the current parliamentary term, the City may be forgiven for already turning attention from yesterday’s budget statement to post-election budgetary announcements for substantive financial and fiscal policy developments. However, hidden in the text of yesterday’s Budget Report is a potentially highly significant statement, which could make voting disclosure a mandatory requirement.

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