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Stale Directors and the UK Corporate Governance Code

One interesting fact highlighted by the Financial Times today was the impact of the proposed new UK Corporate Governance Code on company Chairmen. It pointed out that the change in the Code to limit the length of service of directors will include their time as Chairmen and will mean dozens of long-standing Chairmen may need to retire. The FT suggests 67 FTSE-100 chairmen will be affected, and there will be another 48 chairmen of FTSE-250 companies according to an analysis by the ...

Further on the FRC and its Report on the HBOS Audit

Roger’s blog makes a number of hard hitting points about the FRC. However, there are some promising actions which indicate change is happening at the FRC. The meeting with the FRC and ShareSoc and UKSA members on 21 November was most helpful in establishing a good working relationship with the FRC. There are promising signs that the FRC want to work closely with us and we have been asked to put representatives onto a number of their committees and working groups. More ...

Brexit, HBOS, Globo and the FRC

Is it not heartening that the Brexit divorce bill, and other terms, have been settled? The exact cost is unclear but it could be up to £40 billion – a lot of money you may say! However, the fact that the key negotiators, Mrs May, Barnier et al, all looked somewhat glum about the deal when announced perhaps tells us that it was a compromise in which both sides had to concede ground. Or perhaps they were just tired. The terms ...

Christmas Contests With Prizes

This month, we’re running two competitions, asking for your nominations. Fat Santa Award: This award will be given to the Chief Executive with the greediest LTIP award, making him...

Shareholder Rights

ShareSoc continue to press for the name on the register, i.e. the beneficial owner not just the nominee as part of a package to restore the rights of individual shareholders, who have been disenfranchised by the nominee system and consequently disempowered. See our Shareholder Rights Campaign for more, and to support us on this. Below is some commentary on recent and not so recent relevant developments. You may have seen that Citi have “launched” a new shareholder voting system. It’s a test ...