Shareholders “too powerful” says ICGN award winner

Peter Dey, the architect of Canada’s first corporate governance guidelines for boards, is convinced that the power of directors has been eroded on that  balance of power has shifted too far to shareholders on key issues.

Dey’s remarks were made in a speech at the ICGN annual conference this week after he received the Lifetime Achiever …… continue reading >>

Funds fail to direct manager voting

Most investment managers are voting proxies without guidance from clients, according to a new survey released this week by the Canadian Shareholder Association for Research and Education. In its annual proxy survey, SHARE reports that 71% of investment managers say that they vote most of their pension fund clients’ proxies at their …… continue reading >>

Canada "too busy" for governance reform

The Canadian Securities Administrators have decided that companies are too busy to comply with the proposed corporate governance changes published last December.

The CSA is a council of the securities regulators of Canada’s provinces and territories which co-ordinates and harmonizes regulation for the Canadian capital markets. Their proposals aimed to replace a …… continue reading >>

Canadian banks agree voluntary say-on-pay resolutions

Canada’s largest financial institutions have agreed a voluntary approach to “say-on-pay” which will see a standardised, non-binding shareholder vote proposed during the 2010 season. In a sharp contrast to the US’ legislative battle to give shareholders a voice on executive pay, Canadian shareholder groups and companies have worked together to create a …… continue reading >>

Canadian Teachers Governance Role Reduced?

One of Canada’s leading newspapers, the Globe & Mail, is striking the death knell for The Ontario Teachers’ Pension Plan’s role in promoting good governance in Canada.

Their gloomy analysis comes after the pension fund announced and 18% loss and a reduction in its Canadian stocks weightings in  by more …… continue reading >>

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