New research from the UK Social Investment Forum (UKSIF) highlights “clear and exciting evidence” that a group of Responsible Investment (RI) champions is beginning to emerge among UK corporate pension funds. Three quarters of repeat respondents achieved a higher score this year than in 2007 and, according to the report, the driving force behind the […]
Read MoreSEC Chairman Mary Schapiro has announced the creation of new advisory committee which is intended to give investors a greater opportunity for input on the Commission’s reform program. SEC Commissioner Luis Aguilar is the primary sponsor of the 18-person committee which will cover a broad work plan, including: Advising the Commission on matters of concern […]
Read MoreRoyal Dutch Shell is to pay $381 million plus interest to a foundation representing over 150 institutional investors in nineteen countries. The settlement, following a binding declaration by the Amsterdam Court of Appeals, is considered to be a milestone, given that European courts lack a class action mechanism for pursuing securities fraud claims. The settlement […]
Read MoreAt today’s AGM of Tomkins plc (FTSE 250 constituent), only 38.8% of shareholders voted in favour of the remuneration report resolution. Measured in terms of dissent (61.2%), the rebellion against the remuneration report ranks just outside the top ten all-time for such resolutions, however the resolution did manage to pass. The dissent was split between […]
Read MoreOn Shareolder Voting Trends … It shows that the average level of support for management proposals rose from 75.8% in 2006 to 84% last year. In Europe, Manifest, a shareholder-advice firm, says 97% of all shareholder votes cast in Europe last year were supportive of management…. June 2nd 2009 Evening Standard >> ….A big problem, […]
Read MoreYou don’t need telling that the onset of the worst global recession since the 1930s has led to a sharp rise in bankruptcies among small businesses and to hundreds of thousands of job losses. But 2008 wasn’t especially painful for a typical chief executive of a FTSE 100 company, according to a new independent survey […]
Read More“Voting down Shell’s pay plan sent a chastened company back to consult over revised proposals. It also set a new high-water mark for annual meetings in a year marked by battles about pay across Europe and an increase in No votes. According to Manifest, the proxy voting agency, four UK companies’ remuneration reports have been […]
Read MoreManifest’s campaign to ensure shareholders at Irish companies have the opportunity to cast an advisory vote on the remuneration report gathered momentum over the weekend, with a full page article in the Irish edition of The Sunday Times. Last month Manifest filed shareholder resolutions at five Irish companies seeking an advisory say-on-pay vote. The Sunday […]
Read MoreAs investors brace themselves for a slew of Japanese AGM meetings (the overwhelming majority of AGMs seem set to be held between 23 and 26 June), a compromise has emerged between the Keidanren (Japan’s business lobby) and the Japanese Ministry of Economy, Trade and Industry over proposals to improve corporate governance. The Ministry is due […]
Read MoreBeale and Company solicitors have published research which has found that only 17% of 100 audit firms had managed to agree a contract with a client to limit their liability for damages. A report in Accountancy Age cited the research, which noted that the use of a liability limitation agreement (‘LLA’) was more prevalent among […]
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