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In Policy Brief No. 99—February 2017 of the Centre for International Governance Innovation (CIGI), I explain how corporate governance could be used to help control systemic risk. Excessive risk taking by systemically important financial firms is widely seen as one of the primary causes of the 2007-2008 global financial crisis. Most of the post-crisis regulatory measures to control that risk taking are designed to reduce moral hazard and to align the interests of managers and investors. These measures may be flawed, I argue, because they are based on questionable assumptions.
Trump's clean power roll back generates protests from investors, businesses and scientists. Join the March for Science on Earth Day, April 22nd
C.D. Howe Institute says federal and provincial governments could raise between $67-$100-billion by selling off assets attractive to private sector investors
The shareholder sponsored proxy access bylaw proposals emerged, in part, from earlier work done by the Canadian Coalition for Good Governance (CCGG)
Credit rating firms wasted no time weighing in on David Einhorn’s novel approach to split shares of Both S&P Global Ratings and Moody’s Investors Service on Tuesday said that implementation of Mr. Einhorn’s proposal could eventually lead to credit downgrades on GM bonds that currently sport ratings not far above junk status. Mr. Einhorn’s hedge […]
Michael Pearson, former chief executive of Valeant Pharmaceuticals International Inc., is suing the embattled drugmaker for refusing to pay him more than 3 million company shares that he said he is owed.
[In] November 2016, we noted that the Financial CHOICE Act proposed by Rep. Jeb Hensarling was only the beginning. While many eyes continued to be fixed on the House Financial Services Committee and the much anticipated CHOICE Act 2.0, on Monday, March 13, FDIC Vice Chairman Thomas Hoenig made a regulatory reform proposal of his own in a speech to the Institute of International Bankers and in a more detailed term sheet. [1] Calling the Dodd-Frank Act “well intended” yet with “many and complicated” regulations that are “burdensome,” Vice Chairman Hoenig proposed a series of structural reforms that, in his view, would simultaneously end too-big-to-fail, provide regulatory relief to banking organizations and enhance competition in non-banking services and financial stability.
Under shareholder proposal, McDonald's would issue franchisees preferred shares with the right to elect one director. Could be model for Twitter & others.
The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.
Tronc’s second-largest shareholder has sent a letter to the board raising questions about corporate governance and demanding they raise a limit on his ownership stake amid an increasingly hostile fight with the company’s biggest investor.
Proxy season is in full swing in Latin America, and is just beginning to heat up in Canada and the United States, and some early trends are already becoming evident across the Americas. Interestingly, there seems to be a slow but potent convergence of the governance world, composed of so many individual markets, as investor concerns expand to all markets and sectors.
Founder, Soros Fund Management LLCNet Worth: $25.2 billion The World's Richest Hedge Fund Billionaires 2017 - pg.1
Although the country has had equal pay laws for half a century, gaps still exist, and new legislation is intended to address the imbalances more forcefully.
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Specialty pharmaceuticals maker Depomed has replaced its chief executive and named two new directors to its board after nearly a year of activist pressure from Starboard Value LP.
March 28, 2017 – William Robson, President and CEO of the C.D. Howe Institute, announces the re-appointment of Dan Ciuriak, former Deputy Chief Economist, Department of Foreign Affairs and International Trade, as a Fellow-in-Residence.
A little history will be made at Thursday’s annual meeting of the TD Bank when the first shareholder proposal on proxy access is voted on by the company’s owners
Canada’s CN, Goldcorp and Cenovus among the most recent companies pushed for greater transparency in lobbying, political donations
General Motors is facing pressure from investor David Einhorn’s Greenlight Capital to boost its stock price by splitting its common shares into two classes. GM said that structure creates “unacceptable” risks.
Economics has developed as a science, conveniently forgetting its roots in political philosophy. Unfortunately that “science” is severely dated, and the functioning of the global capital markets has become separated from the real world. A simple thought experiment throws light on the theoretically correct strategies for a rational saver, but leaves us with unsatisfactory answers. Neglecting the societal context of our saving activity only serves to further isolate the capital markets. Instead, a self-perpetuating system requires investors to evolve from simple allocators of capital to its steward, with far broader responsibilities. Maximising holistic returns represents practical action of the responsibility by investors, and stretches far beyond creating wealth simply for its own sake.
In Are Large Banks Valued More Highly?, we investigate whether the value of large banks, defined as banks with assets in excess of the Dodd-Frank threshold for enhanced supervision ($50 billion in 2010 constant dollars), increases with the size of their assets, using Tobin’s q and market-to-book as our valuation measures.
Business minister writes to FTSE 350 chiefs echoing calls for businesses to publish breakdown of workforce by pay and race
Valeant also owes consulting fees, although it did give him a $9-million severance, insurance coverage, office space and an administrative assistant.
Global sustainable investment assets reached $22.89 trillion at the start of 2016, up 25% from 2014. Europe accounts for over half. Web conference March 27.
In the Dodd-Frank Act legislation after the 2008 Financial Crisis, the inclusion of shareholder SOP voting was driven by bipartisan Congressional support to “control executive compensation…” at corporations. In 2009, a former SEC chief accountant said, “Executive compensation at this point in time has gotten woefully out of hand… The time to adopt ‘say on pay’ type legislation is certainly past due.” [1] Politicians, regulators, and some institutional shareholders clearly thought that, “The impetus for passage of Dodd-Frank’s say-on-pay requirement in 2011 focused on remedying ‘excessive’ CEO pay.” [2]
Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner's IPO underwriters handed it badly needed "buy" ratings.
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Scoop.it!
