|
|
|
|
|
Governance News |
|
ICAEW Annual ConferenceNAPF rejects calls for investor codeChristine Farnish, chief executive of the National Association of Pension Funds (NAPF), has rejected calls for a code of governance for the investment community. More >> |
SECDonaldson leaves controversy over mutual fundsCongressman Christopher Cox is due to be approved by the Senate in the post of chairman of the Securities and Exchange Commission (SEC) following his nomination by the US president George Bush. More >> |
Association of British InsurersCompanies make progress with code complianceUK companies are making progress towards
compliance with the Higgs code, said Stephen Haddrill, director general of the
Association of British Insurers (ABI), speaking at a recent F&C Asset Management
corporate governance conference. |
Wm MorrisonThree non-executive directors join the boardThree non-executive directors (NEDs) have joined the board of Wm Morrison, the supermarket chain. Sir Ken Morrison, chairman, and David Jones, non-executive deputy chairman, have said they would be interviewing further candidates for non-executive directorships. More >> |
EurotunnelShareholders back GounonIn a vote involving 82,000 shareholders representing 45% of share capital Jacques Gounon receiving the backing he needed at the recent Eurotunnel AGM. More >> |
Turnbull GuidanceWorking group advises against big changesThe Turnbull Guidance has contributed to improvements
in the internal control of UK listed companies, according to a review by the
Financial Reporting Council (FRC). |
Regal PetroleumBoard upheaval at oil and gas producerAim-listed oil and gas producer Regal Petroleum has come under intense scrutiny. Major institutional investors put money in the company which states it has ambitious growth plans. More >> |
UK company law reformSupport but some concerns about draft billConsultation on the draft Company Law
Reform Bill ended last month. The law, which the UK government has promised to
press ahead with in the current parliament, was broadly supported. |
China Aviation OilFormer CEO charged under Singapore lawChen Jiulin, the suspended chief executive of China Aviation Oil (CAO) has been charged by the Singapore authorities for offences under its Companies Act, Securities and Futures Act and Penal Code. More >> |
Conflicts of interestsManifest raises debate about role of RREVManifest has recently reiterated its concerns about the conflicts of interest that trade bodies, like the National Association of Pension Funds (NAPF), have when they also part own a commercial organisation providing voting recommendations. More >> |
ElementisHanover forces boardroom changeTurnaround investment specialist, Hanover
Investments, instigated a boardroom shake-up at chemicals company Elementis
ousting its chairman, Keith Hopkins, and senior non-executive director, Edward
Wilson. |
American International GroupSEC takes action against former General Re execMaurice “Hank” Greenberg has resigned from the board of American International Group. Greenberg, previously the company's chairman and chief executive had already stated his intention not to stand for re-election to the board. More >> |
Bristol-Myers SquibbAgreement reached to avoid criminal prosecutionBristol-Myers Squibb (BMS), the pharmaceutical company, has resolved the investigation by the US Attorney's Office in New Jersey relating to wholesale inventory and accounting matters. More >> |
Tax shelter inquiryKPMG speaks out on DOJ investigationAccounting firm KPMG has stated that it
takes full responsibility for its former US partners who between 1996 and 2002
were offering certain tax services that have proved to be unlawful. |
Governance in brief.....Shell investors approve company mergerShareholders have approved the unification of Royal Dutch and Shell Transport, the oil companies, under a single parent company, Royal Dutch Shell. Jeroen van der Veer, chief executive of Shell, called the result an historic step for the group on the way to the proposed unification on 20 July. More >> |
Governance ResourcesLooking for Governance books? See the Manifest Bookshop Click Here >> for more details.ConferencesTopical governance and CSR-related conferences. More >> |
Manifest-I - Comment|
|
|
Corporate Social Responsibility |
|
Corporate Manslaughter BillSanctions for individual directors soughtThe government’s draft corporate manslaughter bill has been criticised because of the lack of a mechanism to prosecute individual directors. Consultation on the bill ended last month. More >> |
World Economic ForumBusiness has a role in regenerating AfricaThe World Economic Forum (WEF) has called on African business to spearhead moves for change in the continent. This came at the recent 15th Africa Economic Summit held by the WEF, over half the participants of which were business leaders. More >> |
Climate Risk ReportInvestors must assess greenhouse gas emissionsThe World Resources Institute (WRI) and Ceres, the
environmentalist coalition, have released a report recommending that investors
assess climate risk posed to their investments and include climate risk
adjustments when valuing companies.
|
The Carbon 100Oil and gas sector responsible for most emissionsUnder half of FTSE 100 companies disclose their carbon emissions, and even for those companies that do there is a considerable lack of comparability in the data, found The Carbon 100: Quantifying the Carbon Emissions, Intensities and Exposures of the FTSE 100, a report commissioned by Henderson Global Investors. More >> |
FTSE4GoodCSR index considers its successThe number of companies in the FTSE4Good index has
increased from 700 to 900 since it was launched in 2001 even though the FTSE
Group tightened up its eligibility criteria. |
KPMG survey of CR reportingJapan leads way in producing separate reportsThe KPMG International Survey of Corporate Responsibility (CR) Reporting 2005 has found a significant change in the nature of CR reporting since its triennial survey began in 1993. More >> |
Canadian sustainability reportingReporting guidelines present a challengeHalf (49.8%) of companies listed on the Toronto Stock Exchange and TSX Venture Exchange provide some coverage of their social or environmental performance, according to a survey carried out by the Certified General Accountants Association of Canada (CGA-Canada). More >> |
CSR in brief.....CIS launches ethical engagement policyThe Co-operative Insurance
Society (CIS) has launched an
ethical engagement policy to act as a basis for its future shareholder activism
and campaigning. |
Academic RoundupManifest-I presents a summary of recently released academic papers on international corporate governance issues. More >> |
AdvertiseShow your support for corporate governance and CSR by advertising with Manifest-I. |
|
|
|