Manifest - The Proxy Voting Agency

“Healthy tension” best for executive remuneration?

Alan Brett — Wed, 18 Aug 2010 09:36:24 +0000

Just what is the most appropriate level of executive pay and what is the best approach to aligning interests between executives and shareholders? This little gem of an extract comes from a submission...

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Ireland’s Financial Regulator publishes corporate governance consultation responses

Alan Brett — Fri, 30 Jul 2010 15:33:42 +0000

Some responses to the Consultation Paper on Corporate Governance Requirements for credit institutions and insurance undertakings have now been published on the website of the Irish Financial...

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NZ company law to allow electronic voting

Alan Brett — Fri, 30 Jul 2010 14:48:35 +0000

In a speech to the New Zealand Shareholders Association Conference and AGM, the NZ Commerce Minister, Simon Power, has pledged to include in the Regulatory Reform (Omnibus) Bill 2010, which is...

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Annual director elections – is there another way?

Sarah Wilson — Sun, 25 Jul 2010 22:55:52 +0000

The debate around comply or explain as a concept took an interesting turn last week when three of the UK’s largest pension fund investors publicly broke ranks on the issue of annual director...

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South African Stewardship Code being drafted

Alan Brett — Tue, 20 Jul 2010 11:57:09 +0000

The South African Times has reported that a ‘group of stakeholders within the investor community have with the assistance of The Institute of Directors in Southern Africa (IoDSA) convened a...

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US investors get say on pay

Sarah Wilson — Sun, 18 Jul 2010 22:52:10 +0000

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...

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EU warns on board diversity

Sarah Wilson — Sun, 18 Jul 2010 22:01:05 +0000

The threat of quotas to improve board diversity moved a step closer last week with EU Fundamental Rights Commissioner Viviane Reding telling the European parliament: “Equality in...

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SEC gets to grips with proxy plumbing

Sarah Wilson — Wed, 14 Jul 2010 21:32:13 +0000

Fair corporate suffrage is an important right that should attach to every equity security Source: United States Congress, 1934 There’s no small irony that the first shareholder voting...

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SEC Proxy Plumbing concept release next week

Sarah Wilson — Thu, 08 Jul 2010 10:18:37 +0000

The US Securities and Exchange Commission looks set to debate its “concept release” on the mechanics of the US proxy system next week. According to an SEC announcement, the commission is...

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Irish Corporate Governance Code consultation opened

Alan Brett — Mon, 05 Jul 2010 10:03:22 +0000

A consultation paper has been published by the Irish Stock Exchange in which it proposes the introduction of an Irish Corporate Governance Code, a draft copy of which has been published. The proposed...

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UKSIF contemplates 10 years of SRI disclosures

Sarah Wilson — Fri, 02 Jul 2010 13:15:32 +0000

Friends of the UK Sustainable Investment Forum (UKSIF) gathered at the Houses of Parliament on June 28th to celebrate the 10th anniversary of of environmental, social and corporate governance (ESG)...

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Investors (and advisors) get their own code

Sarah Wilson — Fri, 02 Jul 2010 12:56:21 +0000

The UK has offered a new template for global governance with the introduction of the first formal code of conduct for investors. Under the watchful eye of the Financial Reporting Council, it is hoped...

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Peer Groups & Pay, new research from PGI and IIRCi

Allie Monaco — Fri, 25 Jun 2010 14:58:42 +0000

PROXY Governance and the Investor Responsibility Research Center Institute (IRRCi) today released a new study, “Compensation Peer Groups at Companies with High Pay” that identifies a...

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SEC ready to review US proxy plumbing

Sarah Wilson — Tue, 22 Jun 2010 16:43:18 +0000

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...

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US financial reform horse trading hits investors

Sarah Wilson — Tue, 22 Jun 2010 10:06:42 +0000

As elected representatives in the US enter the final stages of merging the two competing financial services reform bills, investors are becoming increasingly anxious that their key reform proposal,...

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Companies Move to Block New Remuneration Disclosure Requirements in Brazil

jonathanhaymon — Mon, 21 Jun 2010 10:47:08 +0000

Reaction to the new remuneration disclosure requirements set out by the Comissão de Valores Mobiliários (Securities and Exchange Commission of Brazil, or “CVM”), have been mixed, ranging from full...

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Wyser-Pratte challenges outcome of Lagardère AGM

Alan Brett — Fri, 18 Jun 2010 18:23:23 +0000

The activist shareholder Guy Wyser-Pratte has challenged the outcome of the AGM of Lagardère, held on 27 April, and requested the French market regulator, the AMF, to verify the procedures for the...

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Support for Environmental & Social Issues Votes Surges in US

Sarah Wilson — Fri, 11 Jun 2010 16:05:48 +0000

New research from Manifest’s US partner ProxyGovernance Inc reveals just how rapidly support is growing for E&S votes at US companies. For the first time, E&S resolutions have...

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The Reg FD Shareholder Dialogue Myth – Busted

Sarah Wilson — Fri, 11 Jun 2010 14:14:47 +0000

As Prudential has recently found to its cost, it’s generally worth while keeping shareholders in the loop. Whereas UK and European companies are generally welcoming of investor dialogue to the...

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US pension funds fight to keep proxy reforms on the table

Sarah Wilson — Fri, 11 Jun 2010 13:34:05 +0000

CalPERS and 20 other public pension plans have written to key US lawmakers urging them to keep corporate governance provisions in the final version of a proposed financial regulations reform...

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SEC moves forward on proxy reform

Sarah Wilson — Fri, 11 Jun 2010 13:02:09 +0000

The SEC has confirmed that it will be issuing a green paper on proxy reform later this year. Speaking at a Business Roundtable quarterly meeting last week, SEC Chairman, Mary Schapiro said:...

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UK’s IIC outlines thinking on stewardship

Sarah Wilson — Fri, 11 Jun 2010 12:10:47 +0000

The Institutional Investor Council (IIC), the successor body to the Institutional Shareholders’ Committee (ISC), has started to lay out its stall on possible work programmes. Speaking at the...

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Shareholders “too powerful” says ICGN award winner

Sarah Wilson — Wed, 09 Jun 2010 12:26:51 +0000

Peter Dey, the architect of Canada’s first corporate governance guidelines for boards, is convinced that the power of directors has been eroded on that balance of power has shifted too far to...

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Remuneration reports are “unduly complex” say Australian directors

Sarah Wilson — Mon, 07 Jun 2010 09:31:28 +0000

Remuneration reports are “unduly complex, place a significant burden on companies and are of limited use to shareholders and other readers. At worst, they have become almost incomprehensible...

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Commission consults on Corporate Governance green paper

Paul Hewitt — Fri, 04 Jun 2010 16:43:03 +0000

The European Commission has this week launched a consultation, in the form of a green paper, in preparation for taking measures to enhance corporate governance in financial institutions and...

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