US proxy reform: It’s completely broke, please fix it!

“The investing community desires change”. Not something we weren’t aware of, surely? However, when it’s a summary of the almost unanimous response to the most comprehensive regulatory review of the US proxy system the SEC has undertaken  in 30 years, this finding is  highly significant.

In short, the Securities Transfer Association analysis …… continue reading >>

US investors get say on pay

 The Dodd-Frank financial reform bill  was voted through by both the House of Representatives and Senate by 237-192 and 60-39 respectively. The legislation is now expected to be signed into law by President Obama as early as this week. 

The passage of the bill is particularly significant for the corporate governance community …… continue reading >>

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 …… continue reading >>

US Meeting Spotlight

The proxy season is far from over, writes Allie Monaco, Head of Research at ProxyGovernance. In the last two weeks of May, nearly 170 shareholder proposals will come to a vote at 75 U.S. companies. Of these proposals, 35% relate to social and environmental issues (including climate change, sustainability, and political contributions); …… continue reading >>

Shareholder rights a 'key reform' says Obama

US president Barack Obama took his fight for financial reform to the heart of Wall Street this week and described the role of shareholders as “the last key component”.

As the US administration faces up to a tough fight in the Senate on Monday, Obama outlined his vision of a financial system that did …… continue reading >>

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 …… continue reading >>

US pay peer group trends revealed

An analysis of company-selected compensation peer groups at S&P 500 companies reveals some clear favorites. 3M Co. tops the list, selected as a peer by 11% of the 374 companies that disclosed in their 2009 annual proxy statements a peer group of up to 35 companies. Six other firms – Johnson & …… continue reading >>

Political donations revisited

The US Supreme Court’s ruling in Citizens United v. the Federal Election Commission, has sent shockwaves through the US corporate governance community and re-awakes concerns that companies will use shareholder funds to influence US political elections.

Nearly all restraint on corporate political spending has been lifted by the ruling, prompting the Center for Political …… continue reading >>

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