The US House of Representatives last week voted on a series of proposals designed to dismantle key aspects of Dodd Frank reforms. After June’s vote to propose regulation of proxy advisors and rescind the conflict minerals rule, the latest intervention on watering down shareholder rights and ESG removes: the SEC’s authority to enforce the CEO median pay ratio disclosure rules; the […]
Read More
Investors need to engage more effectively with companies on forced labour and ensure that firms are meeting reporting requirements according to the latest Investor Briefing by pressure group, ShareAction. The briefing includes examples of shareholder engagement with companies as well as policy makers which has led to action being taken against the use of forced […]
Read MoreThe Paris climate change agreement has mobilised business and investors to take more action to reduce carbon emissions but to get the estimated $5 trillion a year of investment needed to move to a low carbon economy there needs to be a shift in thinking so that sustainable investment becomes part of mainstream investment speakers at the […]
Read MoreMoves to regulate proxy research would undermine relationships with shareholders, compromise research integrity and eliminate competition say global investors. Proposed regulation contradicts moves to improve objectivity in sell-side space. The US House of Representatives’ Finance Services Committee last week passed a series of Bills which seek to repeal large chunks of the Dodd-Frank Act which was passed in […]
Read MoreBig challenges remain if the financial sector is to make last changes to improve the diversity of their executives following the UK’s Gadhia Review and the launch of the government’s Women in Finance Charter, according to the think tank, New Financial. The UK government commissioned Jayne-Anne Gadhia, CEO of Virgin Money, to lead a review of […]
Read MoreA coalition of over 80 institutional investors, with $4.8 trillion in assets under management, has pledged support for the creation of the Corporate Human Rights Benchmark (CHRB) – the world’s first wide-scale benchmark on companies’ human rights policies, processes and practices. The investors include Boston Common Asset Management, Aviva Investors, APG Asset Management, BNP Paribas Investment Partners, […]
Read MoreStandard Life, which as an institutional investor is known for its stewardship approach, faced opposition to the pay awarded to its chief executive, Keith Skeoch at its recent AGM (17th May). The investment and insurance company received a 22% vote against it remuneration report. This week’s other UK AGM results also showed continuing disquiet among shareholders about executive […]
Read MoreThe US Public Company Accounting Oversight Board (PCAOB) has announced that its rules to improve the transparency of the audit by disclosing the names of audit engagement partners, as well as information about other firms that participate in the audits, were approved by the Securities and Exchange Commission. Audit firms are required to file with the PCAOB […]
Read MoreThe Financial Reporting Council’s pre-emption group (PEG) has released a report showing the progress of implementation of the Statement of Principles (principles), which were updated in 2015 to reflect market changes. The PEG found that the revised principles were largely adhered to while the FRC said the report’s findings showed the importance of open dialogue and engagement between investors and […]
Read MoreThe share price of Japanese car manufacturer, Mitsubishi Motors, has plunged as the company admitted that incorrect emissions data had been submitted to its government since 1991. Mitsubishi has apologised to shareholders, customers and stakeholders for the deception. The company has appointed a special investigation committee made up of external lawyers under the chairmanship of Keiichi Watanbe, whose was formerly the […]
Read More