Index September 2004
Comment
Single information source is not so efficient
Richard Northedge
If there is one thing worse than a company having to
fill in dozens of investment questionnaires, it is the company filling in only
one. A single inquiry-form may seem efficient, but a single source of
information runs counter to efficiency. More >>
Governance
Shell
Regulators confirm fines for oil giant
The Financial Services Authority (FSA) and the Securities Exchange Commission
(SEC) simultaneously confirmed their fines imposed on oil giant Royal
Dutch/Shell group. Shell announced in July it had settled with the FSA and the
SEC in principle. More >>
Auditors' Liability
Professionals dispute OFT findings
Accountancy bodies are disputing the findings of the Office of Fair Trading
report last month
on whether capping the liability would affect competition in the audit
market. More >>
Financial Services Authority
Issuers warned against bullying analysts
The
Financial Services Authority (FSA) has said issuers face
risks if they put pressure on analysts to ensure positive coverage.
More >>
British Energy
Present restructuring plan only possible deal
Speaking at its recent AGM the chairman of British
Energy, Adrian Montague, dismissed arguments by certain shareholders that have
contended that recent increases in power prices have made the company more
valuable and creditors are getting a better deal than they fairly should.
More
>>
Operating & Financial Review
Worries that aims won't be achieved
The responses to the government's consultation on the mandatory Operating &
Financial Review (OFR) which ended last month highlighted concerns that the
government's aim of a “step-change in the quality of reporting by companies”
will not be achieved. More >>
Securities & Exchange Commission
US regulator settles cases
The Securities & Exchange Commission (SEC) has been showing its determination to
penalise corporate and financial services wrongdoers by settling a number of
cases in the past month.
More >>
Parmalat
Dairy group begins lawsuits against third parties
Enrico Bondi, the extraordinary commissioner of
Parmalat, has filed a number of lawsuits to recover damages from third parties
believed to have played a role in its near collapse.
More >>
Corporate Social Responsibility
London Stock Exchange
Corporate Responsibility Exchange launched
The London Stock Exchange’s
(LSE) IR
Solutions service has launched its Corporate Responsibility Exchange (CRE), which will
be available for institutional investors to use from October.
More >>
Environment Agency
Pollution incidents reduced from last year
The recent Environment Agency
report,
Spotlight on Business: Environmental Performance in 2003, showed that the
number of pollution incidents from industry was down 12% on 2002 and by 43% over
the last two years. More
>>
Governance in brief.....
Berkeley seeks approval for
change of strategy
Housebuilder, Berkeley Group,
has written to shareholders seeking approval for a change of business
strategy which will see the return of capital at a rate of up to £12 per
existing ordinary share,
a total of around £1.45bn.
More >>
CSR in brief.....
CBI has concerns about
environmental taxes
The Confederation of British Industry (CBI) believes the MPs making up the
Environmental Audit Committee underplayed the impact green taxes have on UK
competitiveness in the committee's recent report.
More >>
Conferences
Topical governance and CSR-related conferences.
More >>
September
2004
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