CBS and Viacom to reunite in an all-stock merger
CBS and Viacom reunited after 14 years in order to take on competitors.
13 August 2019
13 August 2019
ING to pioneer sustainability improvement derivatives
ING supports clients to achieve their sustainability goals through the introduction of financial securities linked to sustainability.
12 August 2019
KPMG dismisses Head of UK financial services after investigations of misconduct
Tim Howarth is the third senior executive being ousted by KPMG after conduct probe this year.
9 August 2019
Investec shareholders show strong opposition to reappointment of KPMG as company auditor
More than 20 percent of shareholders voted against the reappointment of KPMG as joint auditor of the company’s South African unit.
8 August 2019
COSO set to release new guidelines for managing cybersecurity
The new guidance is expected to focus on the application of ERM principles as a protection against cybersecurity threats.
5 August 2019
CEO of HSBC steps down after less than two years in the role
John Flint is resigning from the HSBC’s Chief Executive position after serving for less than 18 months.
24 July 2019
Facebook fined $5 billion by FTC for privacy violations
Settlement with the FTC also requires the company to set up a board privacy committee comprised of independent non-executive directors.
17 July 2019
Australian prudential regulator will have veto power over executive appointments at the country's bank
The government review has criticised Apra for its lack of effective oversight of the country’s financial sector.
16 July 2019
Searchlight Capital Partners to take control of Bezeq Israed Telecom
Searchlight Capital Partners will take control of Israel’s largest telecoms group Bezeq Israel Telecom
15 July 2019
Uber adopts diversity targets as performance metric for senior executive bonuses
The newly publicly listed company is seeking to increase diversity in top roles.
15 July 2019
Investors protest against new pension arrangements for Standard Chartered CEO
Almost 40% of shareholders did not support new remuneration policy at the last AGM.
11 July 2019
Deutsche Bank under investigation for work with Malaysian Fund
DoJ is investigating a potential violation of foreign corruption and anti-money-laundering laws.
11 July 2019
Former Barclays legal expert to join Deutsche Bank Board
Valcárcel will replace Stefan Simon, who joins the company’s management as head of regulatory and legal affairs.
11 July 2019
UK Companies accused of box ticking over female appointments
Women being promoted to senior executive positions for symbolic purposes, says report
11 July 2019
China's Anbang gets rebrand after government takeover
The Chinese government has announced the acquisition of Anbang Insurance – now known as Dajia Insurance
11 July 2019
Reckitt Benckiser to pay record $1.4bn in US penalty settlement
Reckit Benckiser allegedly made unsubstantiated claims about its anti-addiction drug Suboxone.
11 July 2019
Lloyds Bank swipes Callsign deal to bolster cyber security
Start-up's software learns how customers use phone to flag suspect behaviour.
10 July 2019
A.P Moller-Maersk to acquire Danish wind turbine supplier KK Group
A.P. Moller-Maersk has announced that it will acquire Danish wind turbin supplier KK Group as the first step into the renewable energy industry.
8 July 2019
British Airways to be fined with biggest ever penalty for data breach
British Airways is facing a record fine for breaching European data privacy laws.
7 July 2019
Ex Goldman Sachs executive to join fintech Revolut
Start-up has appointed string of City grandees as it seeks to boost governance credentials.
7 July 2019
18,000 jobs lost due to radical banking at Deutsche Bank
Deutsche Bank has announced that it will close down its equities trading business and establish a bad bank comprising €74bn of risk-weighted asssets.
3 July 2019
Former UBS Investment Bank Chief, to launch lawsuit against Barco Santander
In January Santander withdrew its offer to hire Orcel as its group CEO.
27 June 2019
Jony Ive set to leave Apple to form new venture
Ive first joined Apple in 1992.
27 June 2019
Amos Genish departs Telecom Italia Board six months after being ousted as CEO
Genish is replaced by Vivendi’s executive Frank Cadoret.
26 June 2019
Activist investor Carl Icahn aims board overhaul at Occidental Petroleum
Activist investor argues that board mismanaged acquisition of Anadarko.
24 June 2019
Walmart agrees to $282 million settlement to close corruption allegations
SEC found that retailer favoured growth over compliance in its operations in Brazil, China, India, and Mexico.
20 June 2019
Deutsche Bank faces US money laundering probe
German lender alleged to have ignored concerns raised by a whistle blower.
19 June 2019
Nissan offers Renault Chief Executive seats on board committees
Governance agreement seen as crucial for the alliance.
19 June 2019
Feipel names chair of Lux Directors Institute
Attorney Carine Feipel elected chair of the Luxembourg director’s institute (Institut luxembourgeois des administrateurs).
18 June 2019
Old Mutual fires CEO Peter Moyo
Peter Moyo fired over dividend payments from NMT, a company he co-founded, in which Old Mutual owns a stake.
17 June 2019
Senior executives of Estonian Swedbank replaced following money laundering investigation
Swedbank has dismissed two senior executives of its Estonian branch as internal investigation on money laundering allegations continues.
17 June 2019
ANZ Bank Executive resigns after inquiry into expenses
David Hisco failed to correctly characterise expenses but will not be required to repay the bank.
16 June 2019
Raiffeisen Bank announce CHF 1million executive pay cap
Switzerland’s third largest bank will limit the annual remuneration of top management to CHF1 million (around $1million) from July 1.
11 June 2019
Independent directors to take corporate literacy exams following scandals in India
Narendra Modi, India’s prime minister, endeavours to reform the country's corporate governance system to address the loopholes which allowed series of scandals during his first term in office.
11 June 2019
OECD Corporate Governance Factbook 2019
The Factbook provides information of a countries’ institutional, legal and regulatory frameworks.
11 June 2019
Wells Fargo struggles to attract interest from top candidates for CEO role
PNC CEO William Demchak and former US Bancorp CEO Richard Davis both declined interest in the job.
9 June 2019
Renault to block governance changes at Nissan
French automaker to abstain in vote for governance overhaul at Nissan.
6 June 2019
Four top EU/GSIB banks fined for manipulating foreign exchange market
Banks to pay over $90 million in penalties to Swiss regulator following €1 billion fine from the EU.
5 June 2019
Investors revolt against executive pay at GVC Holdings
40% of GVC Holdings investors revolt over pay package granted to the CEO.
5 June 2019
Aviva Finance Chief to step down
The CFO of Aviva top step down following "a host of Management changes" by the new CEO, who was appointed in March
3 June 2019
Head of Glencore's oil operations set to retire
New departure in executive team comes as company faces corruption probe.
1 June 2019
Governance in Chinese companies raise concerns for investors
The lack of an investor stewardship code in China may be one of the reasons behind lack of progress in corporate governance
31 May 2019
£1.89m fine in relation to outsourcing failings and Raphaels Bank
Raphaels Bank has previously received another fine in 2015 for improper outsourcing controls
30 May 2019
Proposed FCA - Renault merger could result in governance dispute for Board representation
The French government and Nissan are expected to demand representation on the board of the combined company.
29 May 2019
Climate-related proposals at ExxonMobil AGM fall short of being adopted despite support from smaller shareholders
Shareholder proposals on climate risks fail to receive the support of US institutional investors.
23 May 2019
Lloyd's CEO Antonio Horta-Osorio to appear before parliament
Lloyds CEO will appear before members of the work and pensions committee together with Stuart Sinclair, chair of the bank’s remuneration committee.
22 May 2019
Government Commission adopts new version of German CG Code
New version of the German Corporate Governance code been published.
22 May 2019
New Belgium remuneration provisions in 2020 Corporate Governance Code
New provisions on directors' and executives' remuneration for listed Belgian companies
21 May 2019
JP Morgan executive pay policies receive support from 72% of shareholders
Fewer shareholders voted in favour of the bank’s pay policies, following questions on how bonuses are determined.
21 May 2019
Stephen Clarke to step down as WH Smith CEO
WH Smith CEO will resign in October after being with the company for 15 years.
20 May 2019
Goldman Sachs picks Mazars to audit its European operations
New EU rules on audit force Goldman Sachs to look beyond big four for its new European auditor.
17 May 2019
Nissan to overhaul board
Nissan's new board will comprise 11 members, 7 of which are external directors.
16 May 2019
Further investigations into Samsung executives misconduct
Executives at Samsung ordered staff to destroy evidence related to the 2015 accounting fraud.
16 May 2019
KPMG UK to form a new Audit Executive Committee
Changes fall short of operational split recommended by watchdog.
16 May 2019
Five banks to pay €1.1 billion in fines for manipulating the foreign exchange market
Barclays, Citigroup, JP Morgan, MUFG, and RBS have been charged by the European Union for their role in manipulating the FX market.
13 May 2019
Luxottica founder agrees to end governance dispute at EssilorLuxottica
Luxottica’s Leonardo Del Vecchio and Essilor’s Hubert Sagnières have reached an agreement to grant more power to their lieutenants and end a governance dispute over the appointment of a new group CEO.
13 May 2019
LAPFF publishes “Employees on Board” a survey of FTSE All-Share companies
The Forum undertook a survey earlier this year to get a sense of how companies are responding to the revised UK Corporate Governance Code, with its new emphasis on workforce engagement.
10 May 2019
Danske Bank appointed a former executive of ABN Amro as its new chief executive
Chris Vogelzang will take on a challening role as the new chief executive of Danske Bank, which is under criminal investigation over money laundering
9 May 2019
Gucci parent company to pay €1.25 billion to settle Italy tax dispute
Kering’s Swiss-based subsidiary has allegedly avoided to pay tax on Gucci’s earnings in Italy between 2011 and 2017
8 May 2019
Proxy advisers to urge Deutsche’s investors to vote against its board
Deutsche Bank's shareholders are urged to back a motion of no confidence against Chairman Paul Achleitner
7 May 2019
The Big Four accountancy firms lack diversity
The Big Four accountancy firms (KPMG, EY, PWC and Deloitte) have been scrutinised for their lack of diversity.
6 May 2019
Kraft Heinz will restate its financial results for the past three years
Kraft Heinz has received a second subpoena from the SEC after writing down the goodwill for some its brands.
5 May 2019
Boeing's board of directors comes under scrutiny as company faces 737 Max crisis
Boeing's board failed to answer safety questions in effort to get the new 737 Max to market quickly and at low cost.
2 May 2019
UBS Shareholders revolt over record $5B tax evasion penalty
UBS shareholders refuse to back management from their liability to pay $5 billion penalty for helping French clients evade taxes.
2 May 2019
Bramson suffers heavy defeat in Barclays board bid
Edward Bramson, activist investor has failed to secure a board seat at Barclays plc after 87.21% of shareholders voted against the resolution.
30 April 2019
Eric Schmidt to step down from Alphabet Board
Alphabet announced that Eric Schmidt will not seek re-election at the company's 2019 annual general meeting in June.
30 April 2019
Trump to sue Deutsche Bank and Capital One
In a bid to stop the banks handing over information regarding his financial dealing, Trump has sued Deutsche Bank and Capital One.
30 April 2019
Federal Judge approves agreement which limits use of Twitter by Tesla CEO, Elon Musk
A federal judge has approved the agreement reached by Elon Musk with the SEC to expand the list of topics which cannot be commented upon by the Tesla CEO without obtaining prior approval from the company’s lawyers.
29 April 2019
Shareholder adviser attacks Metro bank over pay and governance
Shareholder adviser attacks Metro Bank over pay and governance
29 April 2019
Illiad chair faces €600 fine
Iliad chair faces a €600,000 fine for inside dealing related to to Iliad's takeover bid for T-Mobile US in 2014.
25 April 2019
Investors place pressure on Domino’s CEO to step down
Following a dispute between management and Domino’s Pizza franchisees over profits, investors have urged the CEO, David Wild, to step down from the business.
24 April 2019
Norway's wealth fund calls for annual elections to Kellogg's board
Norway's wealth fund calls for annual elections to Kellogg's board
16 April 2019
Legal & General toughens stance on “overboarding”
UK’s biggest fund manager joins BlackRock and Vanguard in cracking down on directors who hold too many directorships.
16 April 2019
Share buyback program authorised at media giant Vivendi’s AGM
Shareholders have authorised a share buyback resolution that allows a reduction of up to 25% reduction in the share capital.
15 April 2019
UniCredit has settled to pay $1.3 billion to US authorities following allegations that it violated US sanctions
UniCredit will pay $1.3 billion in criminal and regulatory penalties for allegedly violating US sanctions against various countries, including Iran and Cuba.
12 April 2019
Netflix CEO Reed Hastings will not stand for re-election to Facebook’s board as company reorganises board
Facebook has announced that two of its longest-serving directors, Reed Hastings and Erskine Bowles, will not stand for re-election at the company’s AGM.
12 April 2019
Standard Chartered hopes of quelling unrest over chief’s pension takes a hit
Glass Lewis is recommending that investors vote against the company’s pay policy.
11 April 2019
Former Nissan boss Carlos Ghosn was rearrested in Japan
After being released on bail just a month ago, Ghosn was rearrested on new charges. He allegedly took for his personal use $5 million of the $15 million paid by Nissan to its Omani distributor.
11 April 2019
Walt Disney CEO Bob Iger announces he will retire from the company in 2021
Disney CEO Bob Iger has announced that he will step down once his contract expires at the end of 2021.
9 April 2019
UBS shareholders told to vote against pay policy due to high payouts
UBS Shareholders have been advised to vote against pay policy due to a number of executives receiving high payouts.
8 April 2019
Korean Air Chairman Cho Yang-ho dies at age 70
Chairman of Korean Air, Cho Yang-ho, died at 70 years of age from a lung-related illness.
7 April 2019
Warren Buffett calls on Wells Fargo not to hire a Wall Street insider as its new CEO
Warren Buffett, Wells Fargo’s largest shareholder, has called on the bank to hire someone from outside Wall Street as its new CEO.
2 April 2019
Future of audit & call for views
The BEIS Committee has published the findings and recommendations of its inquiry into the future of audits.
28 March 2019
Swedbank CEO dismissed by the board after money laundering allegations
CEO of Swedbank, Birgitte Bonnessen was fired Thursday 28 March amid allegations that the bank has been involved in laundering money from the Baltic Countries between 2010-2016
25 March 2019
Standard Chartered challenged by investors over chief executive’s pay
Standard Chartered faces much scrutiny from investors over its chief executive pay, following the changes made to its pension in a way that does not adhere to UK corporate governance standards.
24 March 2019
RBS under pressure from small investors over governance
RBS is under pressure from investors to form a committee of shareholder representatives that would meet regularly with the board and executives.
22 March 2019
The Institute of Directors raises alarms over the Audit, Reporting and Governance Authority remit
The Institute of Directors (IOD) has written a letter to the Audit, Reporting and Governance Authority (ARGA) requesting a halt to proposals which would include oversight of corporate governance to ARGA’s remit.
22 March 2019
A power struggle unfolds at newly formed eyewear company Essilor Luxottica
Luxottica’s Leonardo Del Vecchio, who is the new company’s largest shareholder, has accused Essilor executives of violating the agreement that made the merger possible.
20 March 2019
Hot-button topics this AGM season: pay diversity and the climate
The FT reports that while executive pay is likely to grab headlines, climate-related voting and a greater push for board diversity will be important to investors in 2019.
20 March 2019
Metro Bank has work to do to improve governance
Investors have called on the bank to improve its governance following accounting errors that hurt its capital position in January.
19 March 2019
Governance row at Nissan over plans to appoint a new Chair
Nissan is allegedly considering Sadayuki Sakakibara to replace Carlos Ghosn as Chairman of the board.
19 March 2019
Swiss asset manager GAM lays off whistle-blower
Whistle-blower has been made redundant. Mr Sheard raised concerns about one of GAM’s top fund managers to the UK Financial Conduct Authority last year. The lay-off is part of a firm wide restructuring programme that started after GAM’s shares lost three-quarters of their value in the last 12 months.
19 March 2019
Deutsche Bank and Commerzbank merger talks officially confirmed
Deutsche Bank and Commerzbank have confirmed that they are in talks about a potential merger.
15 March 2019
HSBC bows to investor pressure and cuts executives’ pay
HSBC (UK branch) has limited the amount of money their executives are entitled to in lieu of pension contributions to 10% of base salary, down from 30%.
13 March 2019
Money laundering has to be tackled across borders- a transnational body is needed
Money laundering is an issue across boarders which national authorities are trying to tackle.
12 March 2019
The Federal Reserve ban Tim Leissner and Ng Chong Hwa from the banking industry
The two former Goldman Sachs bankers have been banned from the banking industry for their involvement in scheme to illegally divert and misappropriate billions of dollars from a Malaysian sovereign wealth fund.
12 March 2019
Wells Fargo’s corporate governance is again under scrutiny
The Office of the Comptroller of the Currency (OCC) expressed disappointment with Wells Fargo’s “inability to execute effective corporate governance and a successful risk management program”.
11 March 2019
UBS cuts bonuses of female bankers after maternity leave
The Swiss bank has been criticised for using maternity leave as a reason to cut bonuses.
11 March 2019
Independent Review of the Financial Reporting Council
Consultation launched to seek views on the recommendations made by the independent review of the FRC.
7 March 2019
Swedbank accused of handling $176m connected to alleged Russian fraud
Swedbank accused of handling $176m connected to alleged Russian fraud
6 March 2019
Philip Chronican will replace Ken Henry as Chair of National Australia Bank
Philip Chronican will replace Ken Henry as Chair of the board of National Australia Bank (NAB) later this year.
4 March 2019
Disclosures made following a shareholder lawsuit show two Google executives accused of sexual assault received $135 million in exit packages
Following a shareholder lawsuit, Google has made available documents related to the exit of two former executives, Andy Rubin and Amit Singhal, accused of sexual assault.
4 March 2019
Cybersecurity bill that would require companies to disclose whether the board includes a cybersecurity expert has been reintroduced
A group of Democratic and Republican senators have introduced the Cybersecurity Disclosure Act of 2019, which would require companies to disclose whether any of their directors are cybersecurity experts.
4 March 2019
Nordea money laundering scandal gets bigger
Nordea has been linked to suspicious money flows from the Baltics with a worth of around €700m
1 March 2019
PRA publishes “Transitioning to post-exit rules and standards”
These are being made to ensure an operable legal framework after the UK leaves the EU, and to reflect onshoring changes made by HM Treasury in the relevant Statutory Instruments (SIs).
28 February 2019
FCA confirms proposals in the event of a no-deal Brexit
The Financial Conduct Authority (FCA) has published near-final rules and guidance that will apply in the event the UK leaves the EU without an implementation period.
25 February 2019
Karren Brady quits Philip Green's empire amid controversy
Baroness Karren Brady has resigned her job as non-executive Chairman of Taveta, the holding company of Sir Philip Green's retail empire.
24 February 2019
The Reserve Bank of India to remove Corporation bank and Allahabad bank out of the Prompt Corrective Action (PCA) supervision
The move out of the PCA framework is as a result of the recent capital infusion of Rs 48 239 crore in 12 public sector banks.
22 February 2019
Kraft Heinz reveals SEC investigation for improper accounting policies in its procurement department
Kraft Heinz has disclosed to have received a subpoena from the SEC in October 2018 as a result of its accounting policies in procurement. The company stated that it is investigating the matter and that it is planning to implement changes to its internal controls system.
21 February 2019
The SEC has launched an investigation into Danske Bank’s alleged money laundering in its Estonian branch
The US Securities and Exchange Commission has opened an investigation into the alleged money laundering which occurred at Danske Bank’s Estonian branch.
20 February 2019
National Australia Bank’s Chairman and CEO have resigned following the Banking Royal Commission’s report on misconduct in the financial industry
Ken Henry and Andrew Thorburn, Chairman and CEO of National Australia Bank (NAB), have resigned following the criticism received in the final report of the Banking Royal Commission.
20 February 2019
UBS fined €4.5bn for tax evasion in France
In the historic case, the French court has found UBS guilty of helping wealthy clients avoid tax.
18 February 2019
Norwegian Air shuttle leaders agree to sell some of their subscription rights to raise emergency funds
The chief executive and board Chair of the company has agreed to sell some of their subscription rights to raise capital.
18 February 2019
Handelsbanken have appointed a new female CEO
One of Sweden’s biggest bank have appointed Carina Akerstrom as CEO.
15 February 2019
Pay of Bank of America’s CEO Brian Moynihan increased 15% in 2018
Brian Moynihan, CEO of Bank of America, received a remuneration of $26.5 million in 2018, 15% more than what he received in 2017.
14 February 2019
‘We need to rethink conventional wisdom about pay’
The FT reports on having worker representation on the board of UK companies.
14 February 2019
Vivendi’s largest shareholder to leave the board
Vincent Bolloré, Vivendi's largest shareholder, will give his seat on the supervisory board to his son Cyrille Bolloré at the next annual general meeting of the media and entertainment group.
13 February 2019
ABN Amro profits decrease due to cost of anti-money laundering safeguards
Recent scandals at Danske Bank, ING and Rabobank as well as increasing regulatory requirements have motivated ABN Amro to improve their anti-money laundering safeguards.
13 February 2019
Carlos Ghosn has been denied €30m severance compensation
Renault has cancelled €30m pay to Carlos Ghosn.
12 February 2019
Africa’s biggest asset manager faces a governance scandal
The leadership of Public Investment Corporation, which manages mainly the government employee pension fund, has been accused of wrongdoing and political interference by whistle-blowers.
5 February 2019
Amazon diversify their Board by appointing Rosalind Brewer
Rosalind Brewer is currently the COO of Starbucks. She is the second black woman to ever serve on the Amazon board.
5 February 2019
Apple announces that its head of retail operations, Angela Ahrendts, will be leaving in April, five years after joining the company
Apple announced that its head of retail Angela Ahrendts, will be leaving the company in April “for new personal and professional pursuits.” She will be succeeded by Deirdre O’Brien, Apple’s head of human resources, who first joined the company in 1988.
5 February 2019
Investor Edward Bramson seeks to muscle way on to Barclays board
Sherborne Investors submit resolution to elect Edward Bramson to the board of directors.
4 February 2019
Executives at Australian banks face potential criminal charges following the release of the Banking Royal Commission’s final report
The Australian Banking Royal Commission released its final report into misconduct in the financial services industry. The report blames both greed and a lack of regulation as the causes of the misconduct; 24 financial institutions and individuals were referred to regulators for further potential action.
1 January 2019
ASIC published an overview of the 2018 AGM season for S&P/ASX 200 listed entities
Report finds that executive remuneration was a hot topic with 12 remuneration report “strikes”
