UK: FRC Statement on Green Investing

From the UK: The Government has announced its Green Finance Strategy which recognises the role of the financial sector in delivering global and domestic climate and environmental objectives. In response, the FRC has issued a joint statement with other financial regulators, including the PRA, FCA and the TPR which can be viewed here, while the…

Why Are Stock Buybacks So Popular? – The Atlantic

VEA Vice Chair Nell Minow is quoted in this Atlantic story about buybacks. Today, another effort is under way to raid corporate assets at the expense of employees, investors, and taxpayers. But this time, the attack isn’t coming from the outside. It’s coming from inside the citadel, perpetrated by the very chieftains who are supposed…

Time to tackle ‘Big Four’ auditors’ bad behaviour | Descrier News

The Carillion case is just one example in a string of alleged transgressions lighting a fire under the major audit firms, as British policymakers finally confront the need to crack down on the industry. KPMG is still haemorrhaging clients and staff after its extremely controversial work for the Gupta family in South Africa, whose close ties to former…

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…

Up to half of exiting CEOs don’t quit. They get fired – CNN

When companies announce their CEOs are leaving, they may offer any number of vague reasons. But it’s rare that they’d ever say the chief executive was “fired” or explain precisely why.One study suggests that in the past two years, 52% of announced CEO departures from companies on the Russell 3000 Index likely were the result…

Will America lead or fall behind on responsible investing? | TheHill

Fiona Reynolds writes in The Hill: The United States is a global leader by so many measures. The U.S. Women’s National Soccer Team did just win the World Cup, after all. Yet, when it comes to responsible investing, a critical tool for embedding social and climate awareness in the way we do business, the U.S….

Second Supplement to our SEC Comment on Proxy Advisory Firms

Second supplement to our previous comment: We endorse the comment of Ken Bertsch of the Council of Institutional Investors fully and incorporate it by reference into our own. We note that there has yet to be a single specific example of a proxy vote that was incorrectly or harmfully cast as a result of inappropriate,…