Peer Groups & Pay, new research from PGI and IIRCi

PROXY Governance and the Investor Responsibility Research Center Institute (IRRCi) today released a new study, “Compensation Peer Groups at Companies with High Pay” that identifies a subset of S&P 500 companies with high pay that is not aligned with high performance. The data reveals that high executive pay companies self-select larger than More…

SEC ready to review US proxy plumbing

Mary Schapiro, chairman of the Securities and Exchange Commission is a step closer to straightening out America’s proxy plumbing. In a speech made at the Stanford University Law School Directors College on June 20th, Schapiro outlined the Commission’s current thinking.

“the Commission will soon consider publishing a concept release soliciting detailed ideas about how to modernize the More…

US financial reform horse trading hits investors

As elected representatives in the US enter the final stages of merging the two competing financial services reform bills, investors are becoming increasingly anxious that their key reform proposal, access to the proxy, will be rendered useless.

From the outset, both the House and Senate versions of the reform bills have either supported or required the SEC to adopt More…

Companies Move to Block New Remuneration Disclosure Requirements in Brazil

Reaction to the new remuneration disclosure requirements set out by the Comissão de Valores Mobiliários (Securities and Exchange Commission of Brazil, or “CVM”), have been mixed, ranging from full and immediate compliance to complete revolt – with some companies filing lawsuits challenging the legality of the new provisions.

CVM, the regulatory body for the Brazilian securities market, More…

Wyser-Pratte challenges outcome of Lagardère AGM

The activist shareholder Guy Wyser-Pratte has challenged the outcome of the AGM of Lagardère, held on 27 April, and requested the French market regulator, the AMF, to verify the procedures for the transmission of the votes submitted to the meeting.

In a letter dated 8 June 2010, Wyser-Pratte states that he has serious doubts about the validity More…