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Perspectives on Cyber Risk
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Remuneration
August 7, 2017 12:29 PM |
Top Story: United Kingdom: Average FTSE100 CEO pay package was down 17% on previous year due to political pressure, public disapproval and campaigning for pay restraint according to new report [read more]
August 7, 2017 12:25 PM |
Top Story: Governance Institute of Australia report finds 77% of Australians believe high CEO salaries are unethical [read more]
August 7, 2017 12:22 PM |
New report finds that growth in nonexecutive director pay has outpaced growth in annual CEO remuneration due to increase in workload [read more]
June 19, 2017 11:40 AM |
ASIC reportedly launches investigation into CPA; Xenophon introduces Bill into senate [read more]
June 13, 2017 4:18 PM |
CSX Corp shareholders approve $84 million reimbursement to retain CEO Hunter Harrison [read more]
May 29, 2017 3:04 PM |
MinterEllison partner Alberto Colla has provided some tips for boards in relation to key governance developments: reforming culture and engaging with proxy advisers [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 3:47 PM |
Stephen Sedgwick has released his proposals for the reform of product based payments in retail banking, which are 'deliberately intended to signal a sharp break with the past'. [read more]
April 24, 2017 3:42 PM |
The Australasian Investor Relations Association has released a draft 'blueprint' which aims to help listed companies better handle their ESG engagement challenges. [read more]
April 10, 2017 6:24 PM |
The UK Business, Innovation, and Skills parliamentary committee has made wide ranging recommendations to reform corporate governance, including phasing out long-term incentive plans. [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]
April 10, 2017 6:08 PM |
In its new position paper on CEO pay, Norway's Government Pension Fund Global has called for some 'radical' changes in structure, including the phasing out of long-term incentive plans. [read more]
March 13, 2017 1:26 PM |
ASIC has set out its enforcement focus areas for the next six months in relation to market integrity, corporate governance and financial services. [read more]
March 13, 2017 1:23 PM |
In ASIC's appearance before Senate Estimates, chairman Greg Medcraft has argued that it is not enough for companies to do the right thing just because ASIC has stepped in. [read more]
March 13, 2017 1:16 PM |
In the face of an increasingly complex operating environment, boards have been urged to think beyond shareholder returns in order to maintain their social licence to operate. [read more]
February 13, 2017 11:37 AM |
According to EY, this US proxy season investors will be focused on board composition, environmental and social risks, regulatory uncertainty, executive pay and short-termism [read more]
December 12, 2016 3:21 PM |
The UK Pensions and Lifetime Savings Association has released its AGM season report, arguing that boards and asset managers must do more to address shareholder concerns over CEO pay. [read more]
December 5, 2016 2:52 PM |
The UK government has released its much anticipated Green Paper seeking input on a number of proposed corporate governance reforms, but commentators argue it's a let down. [read more]
December 5, 2016 2:48 PM |
ASIC Commissioner John Price has highlighted some of ASIC's current priorities in relation to gatekeeper culture in the financial services industry (including breach reporting). [read more]
December 5, 2016 2:45 PM |
The UK's Purposeful Company Taskforce has provided a 'provocative challenge' to executive pay, recommending simpler pay structures, fair pay charters and a binding vote regime. [read more]
November 28, 2016 2:27 PM |
In the UK, Hermes has proposed a 'fundamental shift' in the structure of executive pay to address unfairness and the lack of connection with performance (including an overall cap on pay). [read more]
November 21, 2016 3:11 PM |
ACSI’s latest survey of board composition and non-executive director pay in the ASX200 has found that boards are continuing to evolve, but have further to go. [read more]
November 14, 2016 1:30 PM |
CBA has become the first of the 'big four' banks to receive a strike against its remuneration report, as investors appear to be sending mixed messages on pay structures. [read more]
November 7, 2016 2:18 PM |
The UK Investment Association has made 'key changes' to its Principles of Remuneration to encourage flexibility and calling on companies to take action on levels of pay. [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 19, 2016 2:53 PM |
In the UK, a parliamentary inquiry has been launched on corporate governance, to consider directors' duties, executive pay and board composition (including employee representation). [read more]
September 12, 2016 10:19 AM |
The UK Institute of Directors has released its second ranking of the FTSE 100 based on corporate governance performance, and called on directors to learn from the research. [read more]
September 12, 2016 10:13 AM |
BlackRock has asserted that all investors should incorporate climate change into their investment processes, and calls for investors and companies to work together to manage the risks . [read more]
September 12, 2016 10:09 AM |
AMP Capital has released its 2016 Mid-year Corporate Governance Report, which sets out its proxy voting highlights and its current engagement themes. [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]
September 5, 2016 4:39 PM |
The NZX is consulting on proposed updates to its corporate governance code, focusing in particular on board diversity, ESG, health and safety and remuneration reporting. [read more]
September 5, 2016 4:36 PM |
ACSI has asserted that its latest study of ASX200 CEO pay shows that although base pay is 'being reined in', in some cases that is offset by 'strikingly persistent bonuses'. [read more]
August 22, 2016 3:43 PM |
The 2016 remuneration of CBA's CEO Ian Narev has attracted some criticism, despite the fact that it is in accordance with the bank's long term reward plan. [read more]
August 22, 2016 3:40 PM |
A research project exploring the impact of the 'two strikes' rule in Australia has found, among other things, that shareholders are not as upset about pay as the media suggests. [read more]
August 15, 2016 1:52 PM |
The UK High Pay Centre has asserted that its latest survey of FTSE 100 CEO pay packages shows there is 'no end to the rise and rise in top pay'. [read more]
August 1, 2016 12:58 PM |
A new report from MSCI has asserted that, according to data from 429 large cap US companies, CEOs are not paid for performance. [read more]
August 1, 2016 12:52 PM |
The UK Investment Association's Working Group on Executive Remuneration has proposed a 'far-reaching plan to simplify pay structures for company bosses'. [read more]
July 25, 2016 3:11 PM |
Governance Institute of Australia has released its inaugural Ethics Index, which reveals that large corporations (and their senior executives) need to improve their image. [read more]
July 25, 2016 3:05 PM |
In a new report, PwC UK has asserted that there is urgent need for action to resolve public concerns over executive pay, but cautions against further regulation. [read more]
June 6, 2016 11:50 AM |
In the US, FINRA's chairman and CEO has discussed how regulators and the industry can work toward ensuring a culture in the financial services industry which puts clients' interests first. [read more]
May 30, 2016 2:45 PM |
ASIC Commissioner John Price has suggested a number of ways that boards can promote a more positive culture within their organisations. [read more]
May 9, 2016 10:58 AM |
The report of the parliamentary inquiry into the impairment of customer loans has made a number of recommendations aimed at preventing 'unconscionable' treatment of bank customers. [read more]
May 2, 2016 1:06 PM |
The Australian Bankers' Association has announced a package of measures to address consumer concerns with the banking industry. [read more]
May 2, 2016 12:59 PM |
Following a 'first strike' against Woodside's remuneration report, chairman Michael Chaney has noted the 'impossible' challenge of structuring pay to satisfy all shareholders. [read more]
May 2, 2016 12:56 PM |
According to media reports, the UK is experiencing a second 'shareholder spring' as investors continue to protest against executive pay packages. [read more]
April 11, 2016 12:46 PM |
The UK's Prudential Regulation Authority has released a supervisory statement relating to (collective) board responsibilities. [read more]
April 4, 2016 3:57 PM |
APRA is consulting on clarifications to the governance and risk management components of the 'Level 3 framework' (and will defer implementation of conglomerate capital requirements). [read more]
April 4, 2016 3:50 PM |
The UK's Investment Association has launched a Productivity Action Plan aimed at boosting the British economy by ending short-termism. [read more]
March 23, 2016 5:02 PM |
ASIC has encouraged all AFS licence holders to carefully review its report into culture, conduct and conflicts management practices in vertically integrated funds management businesses. [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 16, 2016 1:46 PM |
Participants at a recent UK workshop have agreed that directors need to engage with staff and 'be aware of what the customer is experiencing' to detect early signs of weak culture. [read more]
March 16, 2016 1:44 PM |
Australian commentators have highlighted a number of challenges companies face in establishing and protecting a healthy corporate culture. [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 9, 2016 1:13 PM |
AMP Capital has released its 2015 full year Corporate Governance Report, which discusses AMP's proxy voting over the period as well as its approach to shareholder engagement. [read more]
March 9, 2016 1:09 PM |
AMP Capital has queried whether in setting remuneration boards are giving sufficient weight to the value that a CEO provides (rather than focusing on what their peers are paying). [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]
November 25, 2015 12:17 PM |
The UK's Investment Association has noted, among other things, that its members now expect long-term incentives to have a performance and holding period of at least five years in total. [read more]
October 14, 2015 11:46 AM |
Fund managers and analysts have reportedly predicted that strikes and protest votes against remuneration reports will increase this AGM season. [read more]
October 7, 2015 11:36 AM |
AMP Capital has reported on its proxy voting decisions in the 2014/2015 financial year, including in relation to board composition, remuneration reports and share incentive plans. [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]
August 19, 2015 2:10 PM |
In a move widely criticised by business, the US SEC has adopted a controversial final rule requiring public companies to disclose the ratio of their CEO's pay to the median pay of their respective employees. [read more]
July 15, 2015 5:50 PM |
The AFR reports that its research shows 'strikes' against remuneration reports have doubled in the first half of 2015, and contends that the real level of dissatisfaction could be even higher. [read more]
July 8, 2015 1:36 PM |
The SEC has proposed new executive pay 'clawback' rules for US stock exchanges to impose on listed companies in circumstances where financial statements need to be reissued; however, not all SEC commissioners support the proposal. [read more]
May 27, 2015 11:50 AM |
A new report suggests that returns on invested capital may be a better metric to determine performance related pay than TSR. [read more]
May 20, 2015 4:42 PM |
ASIC Commissioner John Price has reminded companies that chairmen need to take care when deciding to put the remuneration report to a vote on a show of hands. [read more]
May 20, 2015 4:41 PM |
Wintergreen Advisers has warned investors to hold the managers of index equity funds to a 'high standard', particularly in relation to their votes on executive pay. [read more]
May 20, 2015 4:41 PM |
Wintergreen Advisers has warned investors to hold the managers of index equity funds to a 'high standard', particularly in relation to their votes on executive pay. [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]
May 6, 2015 2:02 PM |
The US SEC has (narrowly) voted to propose new rules requiring companies to disclose the relationship between executive compensation and financial performance. [read more]
May 6, 2015 2:00 PM |
As the northern AGM season gets underway, there is growing sentiment that the current system of executive pay is broken. [read more]
April 29, 2015 4:59 PM |
AGM news from Australia: the Leighton Holdings AGM. [read more]
April 29, 2015 4:56 PM |
ISS approves activist hedge fund Third Point's controversial ‘golden leash’ for two of its director candidates at Dow Chemical, which may provide some guidance to other activists on how to structure such arrangements. [read more]
April 22, 2015 10:30 AM |
The latest developments in US activist investor campaigns. [read more]
April 15, 2015 2:59 PM |
With the UK's 2015 general election looming, the nation's Labour Party has vowed to improve the long-term focus of Britain's corporate community if it comes to power. [read more]
April 1, 2015 12:20 PM |
Recommendations to reform Australia's life insurance and financial advice sectors aim to align the interests of financial firms with those of consumers. [read more]
March 25, 2015 12:03 PM |
Superannuation trustees facing a number of industry changes and challenges, as APRA emphasises its focus on conflicts management. [read more]
March 25, 2015 11:59 AM |
General news in shareholder activism. [read more]
March 18, 2015 2:13 PM |
Deputy chairman of APRA contends that remuneration should be linked to desired culture and behaviour. [read more]
March 18, 2015 2:12 PM |
Oracle advocates the use of economic profit as the best mechanism to measure company performance in the context of performance aligned pay. [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 11, 2015 10:50 AM |
Institute of Directors has published proposals to strengthen corporate governance standards centred around long-termism at board-level. [read more]
March 4, 2015 2:09 PM |
Shareholder activism campaigns in the US. [read more]
February 18, 2015 8:44 AM |
The New York Times argues that disclosure is ineffective, calling for rules to ban bad behaviour. [read more]
February 3, 2015 4:52 PM |
Ousting of McDonalds' CEO signifies a change in boardroom attitude towards succession, asserts Fortune. [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]
November 26, 2014 9:03 AM |
Chancellor George Osborne withdraws UK Treasury's challenge to EU bonus cap. [read more]
November 12, 2014 1:20 PM |
The Australian AGM season has shown a marked decrease in major companies receiving strikes against their remuneration reports [read more]
November 12, 2014 12:18 PM |
SCA Property Group makes sweeping changes to its remuneration report and successfully avoids a second strike at the company's AGM. [read more]
October 29, 2014 3:26 PM |
Globe International Limited is set to hold a second board spill meeting as its remuneration report was rejected for the fourth year in a row. [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 22, 2014 10:14 AM |
The contentious 'two-strikes' rule continues to divide opinion among corporate directors [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 16, 2014 8:54 AM |
The Basel Committee has proposed a set of revised governance guidelines which includes placing greater responsibility on bank boards to oversee the business's risk management systems [read more]
August 18, 2014 11:42 AM |
In construing bonus clauses in the employment contracts of two former Investec bankers, the England and Wales High Court held that a contractual discretion must be exercised in good faith, for proper purposes. [read more]
March 24, 2014 12:29 PM |
The UK's Prudential Regulation Authority (PRA) is consulting on proposed changes to the Remuneration Code that would compel PRA-authorised firms to amend employee contracts so that they can clawback vested variable remuneration. [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 3:54 PM |
MEP Philippe Lamberts, 'one of the architects' of the new EU bonus rules, has called for the UK government to be sued for allowing bankers to 'bend the rules'. [read more]
March 7, 2014 3:44 PM |
More and more American companies are using 'unconventional' earnings measures when calculating executive bonuses. [read more]
January 30, 2014 12:42 PM |
JPMorgan will award its CEO, Jamie Dimon, $20 million in compensation for 2013, 74% higher than the $11.5m he earned in 2012: according to reports, board members fear alienating Mr Dimon may have 'profound implications' for the bank. [read more]
December 13, 2013 4:59 PM |
ASA analysis has found that the number of companies who received a first strike against their remuneration report is down significantly this year, and notes that no 'big-ticket company' has received a second strike: in its view this is because the two strikes rule is working 'extremely well'. [read more]
December 6, 2013 2:56 PM |
EU bankers' bonus cap legislation will lead to higher salaries, argues the British government. [read more]
November 27, 2013 3:49 PM |
Swiss voters have voted against a referendum proposal to cap executive remuneration. [read more]
November 18, 2013 8:59 AM |
Johnson & Johnson must reform its compliance structures and have a chief compliance officer who is independent of the general counsel and chief financial officer. [read more]
October 9, 2013 11:50 AM |
Researchers worry that executives' investments decisions are coloured by 'managerial myopia'. [read more]
September 18, 2013 10:48 AM |
Two American professors have conducted a study on whether the market for CEO talent drives CEO pay. [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 11:20 AM |
Boards grapple with how best to present pay numbers in remuneration reports. [read more]
September 10, 2013 11:07 AM |
A major UK investor issues edict to FTSE CEOs on remuneration. [read more]