The Financial Services Authority (FSA) has confirmed that it has commenced criminal proceedings against four former directors of iSoft Group Plc. Patrick Cryne, Stephen Graham, Timothy Whiston and John Whelan have been summonsed to appear at City of Westminster Magistrates Court on 29 January 2010 to face charges of conspiracy to make misleading …… continue reading >>
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The FSA’s letter to the Institutional Shareholders Committee regarding shareholder engagement was initially welcomed by many commentators although concerns were raised in some quarters at the narrow focus of the letter.
In that letter, the FSA stated that they were “aware that concerns have been raised over the extent to which …… continue reading >> Shareholders wanting to work together on “ad-hoc governance strategies” are unlikely to fall foul of the UK’s Financial Services Authority (FSA).
In a “safe harbour” letter to the Institutional Shareholders’ Committee, the FSA’s Sally Dewar sets out how its rules apply to shareholders wanting to work together to promote effective corporate governance in …… continue reading >> The FSA this week introduced a new code for remuneration practices at large banks, building societies and broker dealers in the UK. Not surprisingly, the FSA’s main objectives are to ensure that boards keep a tighter rein on the link between company pay and risk management and sustainability, and that incentives …… continue reading >> Sir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact.
Many …… continue reading >> The UK’s FSA has moved swiftly to address the market’s concerns about rights issues timetable problems. Until mid-February 2009 the Listing Rules’ required a 21 day subscription period; this has now been reduced to 10 business days. The new subscription is a minimum subscription period and applies only to non-statutory …… continue reading >> The FSA’s new draft code of remuneration code of practice has put good governance front and centre by insisting that remuneration is tied to effective risk management. The proposed policy is a follow-up to the letters written to the CEOs of FSA authorised companies in October 2008.
What …… continue reading >> |
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