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Perspectives on Cyber Risk
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Overseas perspectives
August 14, 2017 6:21 PM |
Top Story │ United States: US senators have introduced a Bill that aims to improve the cybersecurity of any internet connected devices purchased by the federal government: Internet of Things (IoT) Cybersecurity Improvement Act 2017 [read more]
August 14, 2017 6:02 PM |
Top Story │ United States: Federal Reserve Board consults on proposal to enhance the effectiveness of boards of directors [read more]
August 7, 2017 12:32 PM |
Top Story: Global survey finds the real cost of cyber attacks on business is the enforced downtime not the ransom demand [read more]
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]
July 17, 2017 1:32 PM |
US Securities and Exchange Commission Chairman Jay Clayton outlines principles that will guide his chairmanship [read more]
July 10, 2017 1:38 PM |
UN International Telecommunication Union survey ranks national cyber efforts: Australia ranked seventh in the world behind Mauritius, Estonia, Oman, Malaysia, The US and Singapore [read more]
July 3, 2017 2:51 PM |
The Bank of England has released its twice annual stability report: mortgage debt; consumer credit; global environment; asset valuations and Brexit identified as risks [read more]
July 3, 2017 2:23 PM |
US Treasury recommend a less aggressive approach to banking deregulation? US Treasury releases report [read more]
July 3, 2017 2:16 PM |
Recent ransomware attacks demonstrate not enough companies are taking the risks of cyber hacking seriously say MinterEllison's Paul Kallenbach and Leah Mooney [read more]
June 26, 2017 2:49 PM |
The evolution of the 'enhanced scrutiny' standard in Delaware M&A litigation over the past 30 years: current doctrine is more favourable towards sell-side boards and the contract rights of third-parties [read more]
June 26, 2017 2:45 PM |
Circumstances have never been right for full nationalisation of US corporate law but why should Delaware continue to set the agenda? [read more]
June 26, 2017 2:39 PM |
UK Financial Conduct Authority (FCA) will conduct more investigations and they may not necessarily lead to enforcement actions says FCA Director of Investigations [read more]
June 26, 2017 2:35 PM |
Morgan Stanley Capital International (MSCI) has announced it will add mainland China stocks to its indexes beginning in June 2018: Blackrock reportedly welcomes decision and pushes for inclusion of Argentina and Saudi Arabia [read more]
June 26, 2017 2:28 PM |
Barclays Bank and four of its former senior staff charged with fraud by the Serious Fraud Office for events dating to the 2008 financial crisis [read more]
May 29, 2017 2:50 PM |
Further action has been taken by regulators to improve conduct in the foreign exchange market, including the release of a global code of conduct and a new ASIC report on the issue FX Global Code of Conduct
[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]
May 22, 2017 4:36 PM |
The UK Investment Association has released new reporting guidance, setting out recommended disclosures on the long term drivers of value creation and productive enterprise. [read more]
May 22, 2017 4:34 PM |
Investors have approved a shareholder proposal calling for improved climate risk reporting at Occidental Petroleum, the first of its kind to pass in the US. [read more]
May 15, 2017 12:42 PM |
NZX Limited has published its final NZX Corporate Governance Code, its first substantial update since 2003. [read more]
May 8, 2017 2:04 PM |
In the UK, a parliamentary committee has recommended the introduction of a corporate offence of failure to prevent human rights abuses, as well as improvements to the Modern Slavery Act. [read more]
May 8, 2017 1:57 PM |
The UK’s Financial Reporting Lab has published a framework for digital corporate reporting, setting out the key characteristics investors and preparers are looking for. [read more]
May 1, 2017 5:21 PM |
In the UK, CGI's new global study has found that a severe cyber security breach represents a permanent cost of 1.8% of company value (and as much as 15% in some extreme cases). [read more]
May 1, 2017 5:18 PM |
Nausicaa Delfas, Executive Director at the UK Financial Conduct Authority, has argued that companies need to move to a ‘secure culture’ to address cyber threats. [read more]
May 1, 2017 5:09 PM |
A ten-year study in the US has found that four specific behaviours distinguish high-performing CEOs from the rest, but that boards often prioritise other qualities when selecting candidates. [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 6:08 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 27, 2017 2:03 PM |
The Federal Reserve Bank of New York's CEO William C Dudley has argued that defining purpose, measurement and incentives are key to improving culture in financial services. [read more]
March 27, 2017 2:00 PM |
Bank of England Governor Mark Carney has tried to dispel some fears concerning the UK's senior managers regime following the bank's own recent experiences. [read more]
March 27, 2017 1:57 PM |
The results of the UK Banking Standards Board's culture assessment suggests that UK banks need to work on responsiveness, accountability, personal resilience and openness. [read more]
March 20, 2017 1:51 PM |
BlackRock has released its engagement priorities for 2017-2018, which include board composition, long term strategy, climate risk disclosure and human capital management. [read more]
March 13, 2017 1:20 PM |
Norges Bank Investment Management has released details of its responsible investment work in managing Norway's Government Pension Fund Global. [read more]
March 6, 2017 12:27 PM |
The UK's Purposeful Company Taskforce has released 22 recommendations aimed at enabling and nurturing purposeful companies. [read more]
March 6, 2017 12:22 PM |
The US Department of Justice has released useful guidance on the topics and questions the Fraud Section has found relevant in evaluating corporate compliance programs. [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]
February 20, 2017 3:30 PM |
The UK FRC is planning a 'fundamental review' of the UK Corporate Governance Code, taking into account current priorities such as culture, stakeholders and executive pay. [read more]
February 13, 2017 11:50 AM |
The NZ FMA has finalised a guide on its view of conduct, which explains how the FMA will use a conduct ‘lens’ in carrying out its monitoring and supervisory activities [read more]
February 13, 2017 11:47 AM |
The UK FRC’s CEO, Stephen Haddrill, has highlighted the importance of rebuilding public trust in business, calculated risk taking and maintaining a strong corporate culture [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 2:45 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 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 31, 2016 2:03 PM |
In the UK, a new report has asserted that unless the culture of regulators is changed the country 'will be sleepwalking into the next financial crisis'. [read more]
October 31, 2016 1:55 PM |
UK FRC has called on companies to ensure they provide 'sufficient balance' in their annual reports, as well as to consider the needs of a range of stakeholders. [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 17, 2016 11:14 AM |
Studies suggest that activism is spreading outside the US, and that Australia is becoming a key target (thanks in part to its corporate governance rules) [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]
October 10, 2016 1:44 PM |
The UK FCA is consulting on new measures to strengthen the senior managers’ and certification regime as part of its continued focus on culture, including extending conduct rules to non-executive directors. [read more]
September 26, 2016 5:34 PM |
According to Hermes Investment Management, its latest survey of institutional investors reveals some emerging trends that may worry responsible capitalism advocates. [read more]
September 26, 2016 5:29 PM |
EY’s latest review of FTSE 350 annual reports has found, among other things, that there is variation in the quality and specificity of disclosures, including in relation to risk reporting. [read more]
September 26, 2016 5:19 PM |
The UK’s Financial Conduct Authority has set out its expectations in relation to management of cyber risk, which include ensuring a ‘security culture’ driven from the top down. [read more]
September 19, 2016 2:56 PM |
The US Business Roundtable has asserted that 'an increase in shareholder access to the boardroom cannot come without a corresponding increase in shareholder responsibility'. [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 10:16 AM |
According to Hermes Investment Management's global analysis, companies with poor corporate governance tend to underperform well governed ones by an average of 30bps per month. [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]
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 8, 2016 1:52 PM |
Australia's major banks will be called to appear annually before the House of Representatives' economics committee, following the controversy over interest rates. [read more]
August 8, 2016 1:49 PM |
The NZ Financial Markets Authority has released for public comment proposed guidance on how it will examine whether financial services providers are demonstrating good conduct. [read more]
August 1, 2016 1:04 PM |
In the UK, the spotlight is on corporate governance, especially at private companies, following a parliamentary report into the collapse of BHS. [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 3:05 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]
July 11, 2016 1:37 PM |
The UK FRC's Director of Audit Policy has discussed lessons learned from the UK's experiences implementing extended auditor reporting (including: planning is of 'critical importance'). [read more]
July 11, 2016 1:28 PM |
Activist Insight Monthly's half year review has asserted that 'activism is here to stay', while activist short sellers have become a 'growing force'. [read more]
July 4, 2016 2:22 PM |
On the whole, US banks have fared well in this year's stress tests, although regulators have again objected to the capital plans of the US units of Deutsche Bank and Santander. [read more]
June 27, 2016 4:05 PM |
A US SEC official has suggested that culture should be seen as 'a sort of mitigant to all risks', but more specifically as a support for conduct risk. [read more]
June 20, 2016 1:01 PM |
A new report has assessed disclosure of political risk in FTSE 100 annual reports, concluding that there is 'an excessive tendency to report risks in a generic form'. [read more]
June 20, 2016 12:54 PM |
EY's survey of FTSE 350 directors has found that culture is vital to overall strategy and performance, but that boards need to take more responsibility for defining and monitoring it. [read more]
May 30, 2016 2:48 PM |
US SEC Chief of Staff Andrew J. Donohue has discussed some of his thoughts and observations on corporate compliance, including how compliance officers can 'get more comfortable'. [read more]
May 23, 2016 12:48 PM |
A new report has asserted that the 'inexorable rise in intangibles' puts Britain at risk of 'becoming an economic backwater if it does not foster purposeful companies'. [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 10, 2015 12:47 PM |
As Japan's new corporate governance code comes into effect, commentators are expecting at least some fundamental shifts in governance. [read more]
April 22, 2015 5:27 PM |
The ongoing probe into Brazil's Petrobras has raised questions about managing corruption risk in emerging markets. [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 15, 2015 2:57 PM |
Fiji's new Companies Bill, which was drafted by a team of Minter Ellison lawyers led by chairman Bruce Cowley, has been introduced to the Fijian Parliament and referred to the Standing Committee on Justice, Law and Human Rights. [read more]
April 1, 2015 12:18 PM |
UK Prudential Regulation Authority issues rules on its new accountability regimes for senior bank managers and insurers. [read more]
April 1, 2015 12:16 PM |
Nominee director approving a deal breached his fiduciary duty by failing to independently consider the interests of the company, and the persons instructing the director were found to have dishonestly procured or assisted the breach. [read more]
April 1, 2015 12:15 PM |
US Supreme Court decision complicates disclosure requirements, contends The WSJ. [read more]
March 18, 2015 2:14 PM |
Chief Justice Strine of the Delaware Supreme Court advises that advocates for social responsibility accept the law for what it is. [read more]
March 18, 2015 2:10 PM |
Federal Reserve stress testing finds robust levels of capital but takes issue with capital plans and 'qualitative' factors. [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 4, 2015 12:31 PM |
US Attorney General puts 90 day deadline on prosecutors to decide if they can charge individuals for the their roles in the GFC. [read more]
February 11, 2015 11:31 AM |
The expanded workload of Audit Committees. [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 20, 2015 4:31 PM |
Insider trading: raising the bar for tippee prosecutions in the US. [read more]
January 19, 2015 9:58 AM |
Activist Nelson Peltz wages proxy war against chemical giant DuPont, asserting underperformance and outdated governance of spinoff. [read more]
January 14, 2015 8:44 AM |
FTSE 100 companies willing to farewell long serving non-executives. [read more]
January 14, 2015 8:42 AM |
OCC reportedly pressures Bank of America into separating its compliance and legal teams. [read more]
December 3, 2014 11:55 AM |
Diversity policies in Australian workplaces declared mere 'window dressing' compared to practical strategies, as Germany introduces a quota for female directors. [read more]
November 12, 2014 12:16 PM |
The Government Pension Investment Fund is becoming more active but commentators are divided as to the likely outcome of this approach, with many anticipating the fund will transform the corporate landscape in Japan. [read more]
October 16, 2014 8:52 AM |
A controversial land purchase deal reveals dearth of transparency and oversight in a system still dominated by opaque chaebol conglomerates. [read more]
October 9, 2014 10:44 AM |
Survey reveals corporate governance practices of top 100 US companies. [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 3:21 PM |
The UK Corporate Governance Code has been revised, with the requirement for a long-term viability statement a controversial change. [read more]
September 8, 2014 4:22 PM |
HKEx publishes concept paper on weighted voting rights. [read more]
August 15, 2014 2:28 PM |
Research on America's whistleblowing reward regime has led the Financial Conduct Authority and Prudential Regulation Authority to recommend that financial incentives not be given to UK whistleblowers. [read more]
June 4, 2014 4:38 PM |
A Financial Times columnist has discussed the corporate governance implications of the spate of Chinese listings currently under way in the US. [read more]
May 19, 2014 3:48 PM |
An algorithm has reportedly been appointed to the board of a Hong Kong venture capital fund. [read more]
May 5, 2014 10:26 AM |
A window into Imperial Japan offers valuable lessons for corporate governance reform. [read more]
May 5, 2014 9:19 AM |
New Zealand's Financial Markets Authority has reviewed the disclosure of audit and non-audit fees by listed companies. [read more]
May 5, 2014 9:15 AM |
The Financial Reporting Council is consulting on its two-yearly review of changes to the UK Corporate Governance Code. [read more]
March 18, 2014 12:09 PM |
India's Ministry of Corporate Affairs has released new regulations on corporate social responsibility. [read more]
February 6, 2014 2:06 PM |
A group of American company directors, institutional investors and advisory firms have launched the Shareholder-Director Exchange to provide guidance on shareholder engagement and 'counter the growing influence' of activists. [read more]
January 30, 2014 12:45 PM |
A US Securities and Exchange Commission administrative law judge suspends the 'Big Four' accounting firms' Chinese operations from auditing US-listed Chinese firms. [read more]
January 30, 2014 12:28 PM |
The Court of Justice of the European Union has held that the power of the European Securities and Markets Authority (ESMA) to adopt emergency measures for the financial markets of the Member States in order to regulate or prohibit short selling is compatible with EU law. [read more]
December 24, 2013 1:06 PM |
New risks for New Zealand company directors. [read more]
December 6, 2013 2:59 PM |
Leading American lawyer, Martin Lipton, has written about some of the corporate governance challenges facing US boards in the year ahead. [read more]
December 6, 2013 2:56 PM |
EU bankers' bonus cap legislation will lead to higher salaries, argues the British government. [read more]
December 6, 2013 2:53 PM |
China's company registration rules are to be reformed. [read more]
December 5, 2013 5:01 PM |
Singapore's national regulator of business entities and public accountants, the Accounting and Corporate Regulatory Authority, recommends that senior executives bear more responsibility for risk governance. [read more]
November 22, 2013 4:39 PM |
China's IPO process will be reformed to empower the market and investors, says the chairman of China's securities regulator. [read more]
November 11, 2013 11:43 AM |
The UK Financial Conduct Authority is proposing reforms to the UK listing regime in order to 'promote appropriate' corporate governance standards in companies with a controlling shareholder and better protect the rights of minority shareholders.    [read more]
October 3, 2013 2:28 PM |
Is 'true and fair view' a fixed or dynamic concept? [read more]
October 1, 2013 2:23 PM |
In a bid to improve the UK banking system, the UK government has published amendments to its Banking Reform Bill. [read more]