Asia-Pacific investors more open to ESG investing | The Asset ESG Forum – Environmental, Social & Governance

ESG consideration is gaining more acceptance from investors across the Asia-Pacific (APAC) region, according to the APAC results released by Franklin Templeton of a comprehensive global study on ESG adoption, implementation and development across institutional and wholesale asset owners globally. The study was conducted by NMG Consulting. ESG considerations gain acceptance Results show investor predisposition…

Stewardship moves beyond box ticking | Minerva-Manifest

The Financial Reporting Council (FRC) has published a new UK Stewardship Code which is due to come into effect on 1 January 2020. The revised Code has set a higher standard for how money is invested on behalf of UK savers and pensioners that the FRC said reflects “the changing expectations of investors and the…

Japan’s Foreign-Investor Screening Risks Undoing Years of Reform – WSJ

The Japanese government’s proposals to tighten screening of foreign investors may keep the country a little safer—at the cost of undoing several years of hard work in improving the investment climate. If proposals published by the Ministry of Finance this week take effect, foreign shareholders would have to inform regulators when their stake in certain…

Shareholder Rights Directive II fact sheet – GOV.UK

New guidelines for UK fund managers: Occupational pension schemes are required to document and disclose online their policy on engaging with investee companies, their investment strategy and their arrangements with asset managers. The Pensions Regulator will update their guidance with regards to engagement, investment strategy and asset manager arrangements. Trustees have an important role to…

Labour vows to hold public inquiry into UK financial sector | Financial Times

An incoming Labour government would launch a public inquiry into Britain’s financial industry to “reveal and root out corruption”, under a plan being drawn up by shadow chancellor John McDonnell. He wants to hold a 12-month public inquiry, set up under the 2005 Inquiries Act, to take evidence under oath into misconduct in the financial…

Bill Winters has undermined good corporate governance | Financial Times

The attack on shareholders by Bill Winters, chief executive of Standard Chartered, for opposing remuneration at the recent shareholder meeting was as unwarranted as it was surprising.While it could easily be dismissed as an individual’s ego bruised by the concerted opposition of nearly 40 per cent of proxies cast against his pay, the wider issues…

Japan: One Step Forward on Corporate Governance But More Steps Ahead

The introduction of both a Stewardship Code in 2014 and a Corporate Governance Code a year later in Japan has pushed investors to focus more on the governance standards of the companies they’re invested in and forced companies to make changes – particularly when it comes to appointing independent directors to the board. But accusations…

New UK Rules for Improving shareholder engagement and increasing transparency around stewardship | FCA

The UK’s Financial Conduct Authority has issued new rules for institutional investor fiduciaries that impose new requirements for engagement and disclosure: We have introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The requirements come into effect on 10 June 2019.  Asset managers and life insurers will need to disclose and make…