The Labour Party has criticised the UK government’s choice of chair for its coalition group that will be developing corporate governance principles for private companies. James Wates CBE, chairman of Wates, a family-owned construction firm, chaired the first meeting of the group this week. The Guardian highlighted that the Wates company is a regular donor to […]
Read MoreThe EU’s High-Level Expert Group (HLEG) on Sustainable Finance, set up by the European Commission in December 2016, has produced its final recommendations. The Commission has pledged that these proposals will form part of its sustainable finance action plan that will be discussed at a conference in Brussels in March. The HLEG made recommendations across […]
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UK MPs investigating the collapse of Carillion gave Steve Haddrill, Financial Reporting Council (FRC) chief executive, a grilling over the regulator’s role in recent years. In his evidence to the joint inquiry by the House of Commons’ Work and Pensions and Business, Energy and Industrial Strategy select committees Haddrill confirmed that the FRC had been […]
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The Pensions and Lifetime Savings Association’s (PLSA) 2018 corporate governance policy and voting guidelines have been published providing its members with examples of good stewardship practice and recommendations for key votes at the Annual General Meetings of their investee companies, on subjects such as executive pay, the re-election of directors and the approval of the annual report. The […]
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Hong Kong’s Financial Reporting Council (FRC) has welcomed the governments plans to strengthen auditor oversight in Hong Kong. The Financial Reporting Council (Amendment) Bill 2018, will be introduced into the Legislative Council of Hong Kong for its first reading next week (24th January). Under the proposed amendments, the FRC will become Hong Kong’s independent auditor […]
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The collapse of Carillion raises concerns not only about corporate governance at the firm and KPMG’s audit, but also how the directors were able to get changes to their pay passed the vote. Speaking in The Guardian on Saturday (20-Jan-18), British Prime Minister Theresa May signalled her government’s frustration with the slow pace of change: “Boardroom excesses […]
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In the opening remarks of his New Year press conference South Korea’s President, Moon Jae-in promised to push for corporate governance reform through the introduction of a stewardship code and improvements in shareholders’ voting rights. He admitted that the reform of the traditional chaebols or conglomerates was needed and he said it was important from the […]
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In its annual review of the pay of FTSE 100 chief executives and average UK employees the High Pay Centre, now working with the Chartered Institute of Personnel and Development (CIPD), found that by 4th January, dubbed Fat Cat Thursday, the UK’s top bosses made more money than the typical UK full-time worker will earn in […]
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Four of the top ten largest asset managers in the US voted in support of a climate change-related shareholder resolution for the first time ever during 2017 research by Fund Votes for the pressure group, Ceres has found. The asset management firms that voted for the first time in favour of a climate-related proposal were […]
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The Investment Association (IA), which represents the UK’s asset management industry, has launched its public register of listed companies which have had significant shareholder rebellions. The IA proposed its development in its response to the government’s green paper on corporate governance in 2016 and was asked to go ahead with the launch of the government’s […]
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