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Perspectives on Cyber Risk
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Other shareholder news
July 31, 2017 12:10 PM |
New report confirms responsible investment strategies deliver better growth than traditional strategies over medium to long term [read more]
July 24, 2017 2:13 PM |
The Financial Services Council launches mandatory stewardship code for asset managers: State Street reportedly says most funds will already be compliant [read more]
July 17, 2017 1:30 PM |
Perpetual lose ten year battle against the two Millner family companies Washington H Soul Pattinson and Brickworks [read more]
July 10, 2017 1:35 PM |
Ernst and Young proxy season review identifies diversity and pay equity as key themes, environmental sustainability and unequal voting structures also emerging as themes [read more]
July 10, 2017 1:31 PM |
The untenable case for perpetual dual class stock? The argument for the inclusion of dual-class sunsets after a fixed period [read more]
June 19, 2017 11:49 AM |
Network Ten go into voluntary administration; 22.47% joint venture announced between shareholders reportedly won't breach existing laws [read more]
May 22, 2017 4:42 PM |
The UK Conservatives' 2017 Manifesto has promised: 'Fairer corporate governance, built on new rules for takeovers, executive pay and worker representation on company boards'. [read more]
April 24, 2017 3:45 PM |
Following public consultation, the ASX has decided to proceed with its proposal to require a bidder to obtain shareholder approval for a reverse takeover and has released draft amendments. [read more]
April 10, 2017 6:12 PM |
AMP Capital has argued in favour of non-financial performance measures, but warned that boards need to get better at explaining how they will generate future shareholder value. [read more]
March 6, 2017 12:14 PM |
ASIC’s latest report on the regulation of corporate finance issues has highlighted some key focus areas, including business model disclosure, climate risk and cyber security. [read more]
February 27, 2017 4:01 PM |
The Singapore Stock Exchange has released a consultation on whether to introduce a dual class share structure, following indications from Hong Kong's exchange that it will revisit the issue. [read more]
November 7, 2016 2:09 PM |
The NSW Supreme Court has found that Primary Health Care and its joint lead managers were not negligent when they excluded a shareholder from the institutional component of an Accelerated Renounceable Entitlement Offer [read more]
October 31, 2016 1:53 PM |
The US SEC has proposed controversial reforms to allow shareholders to vote for their preferred combination of board candidates in contested elections. [read more]
October 31, 2016 1:51 PM |
The federal government is consulting on its proposed steps to make it easier for employers to provide incentives to their employees through Employee Share Schemes. [read more]
October 31, 2016 1:49 PM |
In a 'landmark' ruling, the full federal court has for the first time made a 'common fund' order in relation to class action litigation. [read more]
October 17, 2016 11:12 AM |
The UK's Legal and General Investment Management has proposed a number of ways to curb executive pay and promote pay equality, including giving employees a voice. [read more]
September 12, 2016 10:05 AM |
In the UK, the efforts of politicians and stakeholders to combat 'corporate irresponsibility' and excessive corporate pay are continuing to make the headlines. [read more]
June 27, 2016 4:02 PM |
Responses to the federal government's paper on technology neutrality in distributing company meeting notices and materials have argued that the proposals should go further. [read more]
June 20, 2016 12:48 PM |
The Federal Court of Australia has considered s 203D(1) of the Corporations Act, finding among other things that it does not provide an exhaustive codification of the mechanism for removal of a director. [read more]
June 14, 2016 2:36 PM |
The Full Federal Court has dismissed ACCR's appeal against the Federal Court's decision that CBA was entitled to exclude certain shareholder resolutions from its notice of AGM. [read more]
May 16, 2016 11:33 AM |
Market based causation has been given a 'green light' in the NSW Supreme Court's decision in HIH Insurance Limited (in liquidation) & Ors. [read more]
April 4, 2016 4:01 PM |
Shareholder activists, short-termism and culture (among other things) have been blamed for the recent events at Valeant Pharmaceuticals. [read more]
March 23, 2016 4:57 PM |
A new study of controlled firms on the S&P 1500 has asserted that the findings challenge claims that such structures benefit all shareholders by insulating management from market pressures. [read more]
March 9, 2016 1:19 PM |
Rio Tinto's board has endorsed a special resolution requisitioned by shareholders which requires greater disclosure in relation to certain climate change issues. [read more]
March 2, 2016 2:00 PM |
ASIC has published its fourth report on the regulation of corporate finance issues highlighting, among other things, a focus on risk disclosure, poll voting and cyber security. [read more]
October 7, 2015 11:33 AM |
Proxy adviser Institutional Shareholder Services has released the results of its annual global voting policy survey, which includes responses concerning director 'overboarding' and capital allocation. [read more]
September 15, 2015 10:22 AM |
The Full Federal Court has handed down a decision which opens the door to the adoption of market-based causation in Australian law.  [read more]
September 9, 2015 4:41 PM |
The NSW Supreme Court has held that the unanimous assent of shareholders cannot bind the company in the case of variations of substantive rights under the constitution. [read more]
August 26, 2015 3:27 PM |
As the Australian reporting season unfolds, commentators are divided over whether it is investors or boards who are too focused on the short term, and why. [read more]
August 5, 2015 2:42 PM |
The Federal Court has refused an application for preliminary discovery in relation to a potential class action against Iluka Resources (and noted the uncertainty in Australia of the fraud on the market doctrine). [read more]
July 29, 2015 1:26 PM |
The Bank of England's chief economist has called on policy-makers to consider other models of corporate governance to address the current lack of investment in future growth. [read more]
July 8, 2015 1:48 PM |
A recent study of US companies with time-phased voting (where long-term shareholder receive more votes per share than short-term holders) has found that, overall, they significantly outperformed the market as a whole. [read more]
July 1, 2015 6:19 PM |
ASIC's refusal to grant exemption from buy back provisions for fear it would be 'similar to law reform' has been set aside by Administrative Appeals Tribunal. [read more]
July 1, 2015 6:16 PM |
The HK Securities and Futures Commission has said that it does not support the HK Stock Exchange's proposal to allow the listing of entities with dual-class voting structures. [read more]
June 24, 2015 7:22 PM |
ASIC has released an updated Regulatory Guide 128 Collective action by investors which aims to help investors take collective action to improve corporate governance. [read more]
June 24, 2015 7:12 PM |
Holding on to stock is no longer universal practice among US bank CEOs, despite governance experts and fund managers believing that retention better aligns interests. [read more]
June 17, 2015 1:19 PM |
In the US, General Motors' AGM highlights the question of whether annual shareholder meetings are still relevant. [read more]
June 10, 2015 12:45 PM |
APRA has been quizzed by the Senate Economics Legislation Committee as to whether shareholders have a right to know about currently private discussions with boards about risks. [read more]
June 3, 2015 5:25 PM |
The Full Federal Court has interpreted the meaning of 'voting power' under s 606 and s 610 of the Corporations Act 2001. [read more]
June 3, 2015 5:24 PM |
Australian, US and UK companies are holding back on capital expenditure, a trend attributed variously to investor pressure, risk management, shareholder activism and pay incentives. [read more]
May 27, 2015 11:54 AM |
The Federal Court of Australia has permitted a hostile minority shareholder to inspect company records, finding that the shareholder is not impermissibly involving itself in management. [read more]
May 13, 2015 3:02 PM |
The market continues to debate the pros and cons of founders managing or controlling public companies. [read more]
May 13, 2015 3:00 PM |
The European Parliament's Legal Affairs Committee has narrowly voted to include incentives for long-term shareholders in the new Shareholder Rights Directive. [read more]
April 29, 2015 5:01 PM |
European legislation which is supposedly designed to encourage long-term shareholding may be motivated by other reasons, contends The FT. [read more]
April 22, 2015 10:34 AM |
Blackrock's CEO Laurence Fink has urged America's CEOs to focus on long-term growth. [read more]
April 22, 2015 10:33 AM |
French media conglomerate Vivendi has introduced double-voting rights for long-term shareholders, while reaching consensus with US hedge fund P. Schoenfeld Asset Management. [read more]
April 22, 2015 10:30 AM |
The latest developments in US activist investor campaigns. [read more]
April 15, 2015 3:05 PM |
Commentators in the US are continuing to debate the effectiveness of activist hedge funds, with critics claiming they have an adverse impact on target companies and their creditors. [read more]
April 15, 2015 12:17 PM |
The Governance Institute of Australia has released guidance on how to deal with issues relating to voting, proxy forms and meeting adjournments that may surface during the AGM season. [read more]
April 15, 2015 12:16 PM |
Proposed changes to employee share scheme laws which reverse the requirement for employees to pay an upfront tax bill on shares yet to be realised have been welcomed by Australian start-ups. [read more]
April 15, 2015 12:14 PM |
To effectively prepare for potential activist campaigns in any country, a PwC report advises companies to 'put themselves in the shoes of an activist'. [read more]
March 18, 2015 2:17 PM |
Federation Centres investors left without vote on proposed takeover due to loophole in ASX listing rules. [read more]
March 18, 2015 2:08 PM |
Computershare report summarises meetings trends, noting that less companies are receiving a 'second strike' on their remuneration reports, online voting is on the rise and attendance is declining. [read more]
March 18, 2015 2:06 PM |
Directors should consider both the long and short-term objectives of the company and shareholders, asserts an article by US lawyers. [read more]
March 11, 2015 2:30 PM |
The final proposal for Japan's Corporate Governance Code has been released. [read more]
March 11, 2015 2:29 PM |
Marks & Spencer explores new ways to reward shareholders by offering a gift card as an alternative to dividend. [read more]
March 11, 2015 10:47 AM |
Australian Federal Court rules that the directors of Babcock and Brown did not breach continuous disclosure obligations for failing to report the firm's insolvency. [read more]
March 4, 2015 2:09 PM |
Shareholder activism campaigns in the US. [read more]
March 4, 2015 12:35 PM |
Citigroup announces support for proxy access reforms that, if passed, would allow shareholders to nominate their own candidates for appointment to the board of directors. [read more]
February 18, 2015 8:41 AM |
NYSE publishes corporate governance guide. [read more]
February 18, 2015 8:39 AM |
Senate Economics Legislation Committee releases report discussing submissions on the Corporations Legislation Amendment (Deregulatory and Other Measures) Bill which seeks to abolish the '100 members' rule and indicates its satisfaction with the proposed amendments. [read more]
February 18, 2015 8:35 AM |
Harvard professor Guhan Subtamanian publishes his proposal for 'Corporate Governance 2.0', a governance revamp that seeks to resolve many of the issues hindering meaningful dialogue between boards and shareholders. [read more]
February 11, 2015 11:36 AM |
More activist campaigns in the US. [read more]
February 11, 2015 11:33 AM |
Activist campaigns in the US. [read more]
January 28, 2015 10:30 AM |
Activist investor Carl Icahn pushes for takeover-friendly governance structures at eBay and Gannett spinoffs. [read more]
January 21, 2015 2:30 PM |
Australian Federal Court considers the requirement for 'reliance' in proof of causation and if there is any basis in Australian law for 'market based causation' claims. [read more]
January 21, 2015 10:52 AM |
The Delaware Supreme Court's decision to uphold fee-shifting provisions in a Delaware non-stock company's bylaws has prompted calls for the state's legislature to intervene and override the ruling. [read more]
January 21, 2015 10:50 AM |
Florida company institutes a minimum support threshold for shareholder litigation, the latest in restrictive bylaws. [read more]
January 21, 2015 10:48 AM |
NSW Supreme Court prioritises protection of creditors and considers role of shareholders in capital reductions in Re Molopo Energy Limited v Keybridge Capital Limited. [read more]
January 19, 2015 9:56 AM |
In Renshaw v Queensland Mining Corporation Limited, the Full Court of the Federal Court of Australia dismissed an appeal brought by the former managing director of Queensland Mining Corp against an order that he repay retirement benefits. [read more]
January 19, 2015 9:55 AM |
Changes to employee share scheme taxation touted. [read more]
January 14, 2015 8:38 AM |
US paper finds that a focus on shareholder value maximisation makes little difference to shareholder returns and is detrimental to the broader economy . [read more]
December 3, 2014 11:56 AM |
Melbourne University Associate Professor Michael Legg adds to calls for class action reforms. [read more]
November 26, 2014 9:01 AM |
The Murdoch family retains control of News Corp after a protest vote against the dual-class share structure narrowly loses. [read more]
November 19, 2014 3:01 PM |
New research finds that Australian class actions have remained steady over the past two decades [read more]
November 12, 2014 12:09 PM |
Chief Justice of the Delaware Supreme Court has argued that benefit corporation statutes offer a legal structure that holds promise of corporate governance beyond profit maximisation. [read more]
November 5, 2014 2:09 PM |
A surge of retirements by chairmen indicates a 'new era' in many Australian boardrooms. [read more]
November 5, 2014 12:59 PM |
US courts continue the trend of applying the business judgment rule and dismissing cases concerning board fiduciary duty and corporate control. [read more]
October 29, 2014 2:09 PM |
The federal government has introduced the Corporations Legislation Amendment (Deregulatory and Other Measures) Bill which will modify both the Corporations Act and the ASIC Act and remove the contentious '100 members' rule. [read more]
October 17, 2014 9:35 AM |
The Government has issued some detail about the much anticipated changes to the employee share scheme tax rules. Although the focus in the Government's announcement is on start-ups and emerging businesses, some of the changes will apply more broadly.
[read more]
October 15, 2014 12:10 PM |
Dividend obsessed Australia is facing a 'growth crisis' due to inadequate investment in long-term growth, reveals a new study. [read more]
September 23, 2014 10:30 AM |
Despite continuing concerns about Alibaba's corporate governance structure, it's $25 billion IPO was the world's largest ever float. [read more]
September 22, 2014 3:19 PM |
Exploding the myth of shareholder primacy and expanding stakeholder rights will combat short-termism, contends US professor Kent Greenfield. [read more]
September 18, 2014 9:53 AM |
Former directors, owners and sale managers of New Zealand company Feltex Carpets Limited have been found not liable for shareholder losses sustained in connection with the company's initial public offering in 2004. [read more]
September 8, 2014 4:24 PM |
Shareholders, creditors and litigation funders are increasingly seeking access to D&O policies, with premiums predicted to rise as a result. [read more]
September 8, 2014 4:22 PM |
HKEx publishes concept paper on weighted voting rights. [read more]
September 8, 2014 4:20 PM |
There is speculation that a court ruling on a class action funding arrangement may fuel further growth in litigation, says The AFR. [read more]
August 27, 2014 9:12 AM |
US companies are favouring buybacks over dividends to reward shareholders, but not all commentators agree with this approach. [read more]
August 13, 2014 11:29 AM |
The world's largest sovereign fund, Norway Pension Fund Global, will reveal its voting intentions prior to corporate meetings. [read more]
August 6, 2014 9:45 AM |
Woodside-Shell selective buyback plan defeated by institutional opposition to the unequal treatment of shareholders. [read more]
July 7, 2014 10:33 AM |
The Law Commission for England and Wales has found that pension trustees should take into account environmental, social or ethical factors where they are financially material, but where they are not such factors are only relevant in limited circumstances. [read more]
June 4, 2014 4:34 PM |
Australian superannuation funds are playing an increasing role in the outcome of 'key corporate decisions'. [read more]
May 23, 2014 2:31 PM |
Academics argue that political leaders need to acknowledge effective corporate governance involves the consideration of a variety of parties. [read more]
May 20, 2014 8:56 AM |
Treasury Wine asks court to suspend class action. [read more]
May 19, 2014 1:39 PM |
A new article criticises 'crude' good/evil divide in shareholder democracy debate. [read more]
April 28, 2014 10:27 AM |
US Securities and Exchange Commission (SEC) commissioner Daniel Gallagher has criticised the SEC's shareholder proposal rules and called for reforms. [read more]
March 24, 2014 12:26 PM |
The federal government is reportedly planning to amend the '100-member rule' under s 249N and perhaps s 249D of the Corporations Act as part of its deregulation agenda: Tony Boyd argues it will be 'a loss for retail shareholder. [read more]
March 18, 2014 12:10 PM |
'Long suffering' Barclays' investors say the 'bonus issue is on a collision course with shareholders again' after the bank's decision to increase the staff 'bonus pot' by 10% despite profits falling by a third. [read more]
March 7, 2014 3:49 PM |
Coalition committee pushes for employee share scheme reform. [read more]
March 7, 2014 3:46 PM |
The Governance Institute of Australia, together with governance expert Sandy Easterbrook, has launched draft guidelines for public consultation on 'improving engagement between ASX-listed entities and their institutional investors'. [read more]
March 7, 2014 3:27 PM |
New York Attorney General has announced 'interim agreements' with 18 prominent Wall Street firms to stop their practice of cooperating with analyst surveys administered by 'elite… clients at the expense of others'. [read more]
March 7, 2014 3:24 PM |
According to the latest GPS-Melbourne Institute Leading Index of Shareholder Confidence, a 'significant majority' of retail investors support the introduction of a corporate governance rating system. [read more]
February 24, 2014 12:42 PM |
Bentham IMF Limited has announced a potential shareholder class action against the failed Forge Group Limited, 'alleging misleading and deceptive conduct and breach of continuous disclosure obligations'. [read more]
September 16, 2013 11:25 AM |
Some of the UK's largest institutional investors have demanded less frequent revisions of executive rewards schemes, claiming too much time is taken up responding to remuneration consultations. [read more]
September 12, 2013 11:22 AM |
Increasingly stringent capital requirements may mean lower bank dividends in the future. [read more]
September 10, 2013 11:07 AM |
A major UK investor issues edict to FTSE CEOs on remuneration. [read more]