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An 'ethical lapse' is defined as a scandal or improper conduct by the CEO or other employees including fraud, bribery, insider trading, environmental disasters and sexual indiscretions
Billionaire investor Carl Icahn acquired a new 19.8 million share stake in business services provider Conduent Inc (CNDT.N) in the first quarter and sold out of pharmaceutical firm Allergan Plc (AGN.N) and speech technology group Nuance Communications Inc (NUAN.O), according to regulatory filings on Monday.
CalPERS and CalSTRS sponsored the California Diversity Forum in Sacramento (“America’s Most Diverse City”) on Wednesday, May 12, 2017, bringing together investment and corporate executives to discuss how to better capitalize on the abilities of the diverse modern workforce. Diversity is both morally right and profitable. Narrowing the global gender gap would add $12 trillion in annual gross domestic product to global growth (McKinsey Global Institute).
Although the strong stock market in 2017 has provided a helpful start to the year for many companies, it has not curtailed investor focus on improving the corporate governance practices—from sustainability to board composition—of their portfolio companies. With 2017 annual meeting results already rolling in, early data suggests that one perennial topic remains top of mind for shareholders: executive pay. As the contours of this year’s proxy season take shape, here are five compensation trends that boards and management teams should be aware of as they approach their annual meeting.
The digitization of corporate communication has given rise to new opportunities for organizations to streamline internal processes and ameliorate outdated practices. Technologies designed for efficiency, security and speed are transforming how companies work, and nowhere is this more evident than with the adoption of board portals.
New research shows that the fix is relatively simple: Add more females to the candidate pool.
You would think that getting corporate boards of directors to achieve gender balance was an issue addressed — and answered — a generation ago. And you would be wrong.
The Canadian Coalition for Good Governance is laying out how to 'escalate engagement activities if a board is unresponsive to the concerns communicated'
In the early hours of Monday, May 1, exhausted representatives for Home Capital and a group of lenders hung up the phone in frustration. A deal to give the company an emergency $2-billion loan appeared to be falling apart. Directors at the mortgage firm felt that without the money, they wouldn’t be able to open for business a few hours later
As governance professionals prepare for the height of the proxy season and a range of shareholder proposals, IBM has become one of many large companies to face pressure to boost investor influence.
Tucked into the Financial Choice Act (FCA), the recent endeavor in the House of Representatives to overturn significant segments of the Dodd-Frank Act, was an entirely unrelated provision. Section 844 of the FCA proposed a number of changes to Rule 14a-8,[1] including tougher eligibility standards. To submit a proposal, shareholders would have to own at least 1 percent of a company’s outstanding voting shares continuously for three years.[2]
Friday's cyber attack hit 200,000 victims in at least 150 countries and that number could grow when people return to work on Monday, the head of the European Union's police agency said on Sunday.
In recent years, a small group of financial institutions have paid billions of dollars to settle civil and criminal claims that they formed cartels to rig the prices of certain critically important financial instruments and to stifle competition in others. For example, bankers would rig global benchmark interest rates, such as the London Interbank Offered Rate (LIBOR), for the purposes of benefitting their trading positions in over-the-counter (OTC) interest-rate swaps, which are bets on future interest rate movements. By conspiring with horizontal competitors to fix the benchmarks that were components of the prices of financial instruments, financial institutions and their employees harmed competition by distorting the normal market factors that governed the prices of those instruments. These collusive schemes were facilitated by the fact that the markets for certain types of derivatives are oligopolies dominated by a handful of global banks.
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In Monday's column, I laid out three of six long term economic and investment themes: fiscal stimulus, globalization and aging populations. Here are three more.
Activist investor Jeffrey Ubben is handing his $16 billion portfolio to the next generation.
Regulations proposed by the Texas State Legislature would mark a blow to shareholder rights, subjecting investors, proxy advisors and other shareholder support firms to unprecedented disclosure requirements, and potentially serving to reverse the recent expansion of proxy access.
We examine the effects of a proposed border adjustment tax (also referred to as the “BAT”) on the shareholder wealth of publicly traded firms. Border adjustment has emerged as a controversial feature of proposed U.S. corporate tax reform, as it would be a dramatic departure from longstanding corporate tax policy (Avi-Yonah and Clausing 2017; Auerbach and Devereux 2017; Feldstein 2017; Rubin 2017)
“If you had to sign a cybersecurity certification similar to the financial reporting requirements for corporate officers under Sarbanes-Oxley (SOX) Section 302, could you do it?”
Stewardship for institutional investors means fulfilling their responsibilities as fiduciaries in meeting their obligations to their beneficiaries or clients. Stewardship is intended to enhance the long term sustainable creation of value, so companies and their investors can prosper and, in the process, benefit the market and society as a whole.
Why more chief executives are losing their jobs after scandals and corporate misconduct.
A $10,000 investment in Amazon.com Inc. 20 years ago would be worth $4.9 million today. Good luck finding an Amazon investor who can brag about a return like that.
– The New York Times reported that Dutch chemicals company AkzoNobel rejected a merger offer from US rival PPG Industries, its third such rejection since early March, saying it preferred to go it alone. The denial could set up a hostile takeover fight. PPG said it would make a public ...
Industry professionals told an SEC forum earlier this week that regulation is not the key to the declining US IPO market, citing instead globalization, the strength of foreign exchanges, greater access to private funding, industry consolidation and a drop in small-cap offerings.
By partnering with affinity groups, the National Association of Corporate Directors is making sure boards are better representing those they serve.
When data breaches target credit card numbers and personal information, the damage can be quantified, however when hackers explicitly target a company’s shares that damage is much more unpredictable. Insider-Trading hacks are akin to coming home to find your house has been (somewhat silently) broken into—but was anything stolen? And how long will it take to discover? Did they vandalize anything in the process? Did they install any backdoors? These are big problems when shareholders are involved.
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Scoop.it!
