Lagarde’s ECB won’t let investors delay addressing climate risk

Lagarde: Giving the ECB a bigger role in fighting global warming. Not Rated Text Size: A A A Abu Samra border open, quiet World leaders condemn ‘assault on democracy’ Bloomberg/Frankfurt The European Central Bank has a warning for investors: Deal with the financial risks from climate change soon or we’ll do it for you. Under…

German cabinet approves tougher oversight after Wirecard scandal | Reuters

The German cabinet passed a package of reforms to financial and accounting rules on Wednesday aimed at avoiding another Wirecard scandal amid criticism from opposition lawmakers who say the government’s measures do not go far enough. Chancellor Angela Merkel’s conservatives and the co-governing Social Democrats (SPD) agreed to extend the powers of the BaFin watchdog…

Co-Determinative Corporate Governance

A system of shared corporate governance between shareholders and workers, codetermination has been mostly ignored within the U.S. corporate governance literature. When it has made an appearance, it has largely served as a foil for shareholder primacy and an example of corporate deviance. However, over the last twenty years—and especially in the last five—empirical research…

The EU ESG Regulatory Regime: A Detailed Guide

Environmental, Social, and Governance (ESG) considerations have hovered on the periphery of the public conscious (and the minds of policy drivers and investment managers) for several decades. However, recently their importance has taken center stage with the convergence of several related developments, especially: A growth in support for Green political parties Enhanced social media coverage…

Work and Pensions Committee to examine impact of pension freedoms and protecting pension savers – News from Parliament – UK Parliament

We have been skeptical and critical of the shift from defined benefit to defined contribution pension plans. The entire idea of pension plans was to protect the retirement income security of working people by having their savings managed by expert professionals subject to the highest requirements of diligence and loyalty. What has been characterized as…

25% gender quota introduced for Greek companies | Minerva-Manifest

Greek companies will soon be mandated to meet a 25% female quota on their boards following a landmark decision for gender diversity. The quota requirement has been included as an amendment to the bill transposing the EU Shareholder Rights Directive II (SRD II) into Greek law, and is the result of a consultation led by…

SEC Report: U.S. Investors’ Exposure to Domestic Chinese Issuers

The accounting fraud at Lukin Coffee is just the latest reason to raise concerns about investment risks in Chinese companies. The SEC has issued a new report that includes the exposure of the biggest pension funds in the UA. Excerpts here (footnotes omitted), full report below. More than 150 China-based companies with a combined market…

Congress And Nasdaq Propose Rules That May Result In Delisting Of Chinese Companies – Corporate/Commercial Law – United States

Congress and The Nasdaq Stock Market have both proposed rules that may result in the delisting of Chinese companies. On May 20, 2020, the Senate passed by unanimous consent S. 945, the Holding Foreign Companies Accountable Act, which would prohibit securities of a company from being listed on any U.S. securities exchange or traded “over-the-counter”…