PROXY TALK: Climate Change-Related Resolutions for the 2015 Proxy Season

 

On Friday November 21st Glass Lewis hosted a Proxy Talk conference call with CERES and Walden Asset Management to discuss the risks from stranded carbon assets, greenhouse gas emissions and hydraulic fracturing as well as trends in sustainability reporting. The discussion included a review of expected 2015 shareholder proposals.

Webinar: Glass Lewis Policy Update and Peer Group Portal Discussion

Glass Lewis recently released new voting guidelines for 2015.  In this webinar hosted by Equilar join David Eaton, Glass Lewis Vice President of Proxy Research, and Aaron Boyd, Equilar Director of Governance Research, as they: Discuss the 2015 U.S. Guidelines

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UK Drops Legal Challenge to EU Bonus Cap

The UK Treasury has dropped its lawsuit against the EU’s strict banker bonus rules. The move came after an advocate general for the Court of Justice of the European Union’s (“CJEU”) stated that the restrictions on bonuses as a ratio of fixed pay were legally sound, and suggested that the UK’s pleas should be rejected and the CJEU dismiss the action.

While the AG’s opinion is not binding on the CJEU, in the majority of cases the Court will follow the opinion, and Mr. Osborne has stated that he is “not going to spend taxpayers’ money on a legal challenge that is unlikely to succeed.” However, the decision should not be seen as a resolution; instead, it serves to highlight the distinct approaches taken by the UK and EU on the structure and regulation of bankers’ pay.

Glass Lewis Acquires Meetyl

Glass, Lewis & Co., a leading global provider of governance research and technology services to institutional investors, today announced the acquisition of Meetyl, a technology company that enables direct engagement between investors and issuers.

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S.K. Jain and the Frailties of Indian Corporate Governance

The Indian banking system is under scrutiny after Syndicate Bank’s (NSE: SYNDIBANK) chairman and managing director S.K. Jain was arrested for allegedly accepting INR 5 million in bribes to improve the credit of companies including Bhushan Steel Ltd. (NSE: BHUSHANSTL) and Prakash Industries Limited (NSE: PRAKASH). Yet, despite the gloom of Mr. Jain’s arrest, there may be good news for India’s corporate governance as this incident has identified a serious frailty involving the concentration of power among executive directors and the need for improved board oversight.