Companies could be delisted if they fail to meet ‘comply or explain’ requirement The Council of Institutional Investors (CII) has thrown its weight behind Nasdaq’s proposal that would require companies to disclose board diversity or potentially face delisting. In a letter filed with the Securities Exchange Commission on 30 December, the non-profit association of US […]
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CFA Institute: How to take the next steps in ESG integration Investment organisations need to improve their handling and analysis of ESG data and ensure it is truly embedded across their processes, the institute says The UK is a leader in environmental, social and governance investing – but the investment sector needs to do much more to improve its […]
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A government taskforce led by HM Treasury has outlined a series of far-reaching recommendations designed to put stewardship at the heart of the UK’s commitment to ‘build back better’ post-coronavirus. Twenty proposals across three themes are designed to help investment managers and asset owners expand their stewardship activity across different asset classes, including bonds, and […]
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Investors challenge EU’s sustainability approach A range of investors and other financial market participants have poured cold water on the EU’s proposals to establish a standard classification system for sustainable investments. The Securities and Markets Stakeholder Group (SMSG), which operates under the auspices of European Securities and Markets Authority (ESMA), said it has reservations about […]
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DoL questions purpose of shareholder voting The US Department of Labor (DoL) has thrown a new curveball into its approach to governing shareholder rights, questioning the need for asset owners to have their voices heard by companies at all. Following its recent proposals around how asset managers obtain and validate information on the companies they […]
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US business lobbies press for laws on boardroom diversity A group of US business associations has called on the Senate to ratify legislation on boardroom diversity that was passed by the other chamber last year. In an open letter to Mike Crapo, chairman of the committee on banking, housing, and Sherrod Brown, the committee’s ranking […]
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Canada proposes proxy system overhaul The role of proxy advisory firms and proxy plumbing in Canada could be set for a fundamental overhaul, following the publication of findings by the Capital Markets Modernisation Taskforce (CMMT). In a wide-ranging remit, the taskforce has made over 70 proposals, which include giving regulators new powers, reforming shareholder voting and calling for the introduction […]
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The European Commission has officially mandated the European Financial Reporting Advisory Group (EFRAG) to provide recommendations for updating non-financial reporting standards. In an open letter, European Commission Executive Vice President Valdis Dombrovskis issued a request for technical advice to EFRAG following the conclusion of a recent consultation for revising the Non-Financial Reporting Directive (NFRD). This […]
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