The viability statement that UK listed companies are required to produce under the UK Corporate Governance Code has been taking a bit of a bashing recently
Two years on from gender pay reporting and with executive pay in the spotlight more than ever, will 2020 executive pay reporting regulation make a difference?
What does the new Code mean for companies? That depends on how investors choose to respond. The real test of any code is not how well it is written, but how well it is implemented.
When they report in 2019, UK private companies of a certain size will have to explain their governance arrangements in greater detail than before.
Boards are expected to manage an ever-evolving list of responsibilities. Having boards more immersed in different areas of concern is very much welcomed but the challenge of staying focused on their core responsibilities must be addressed.
In 2016, during her campaign for the leadership of the Conservative Party, Theresa May spoke about “making Britain a country that works for everyone, not just the privileged few”. To achieve this, she proposed requiring listed companies to appoint employee representatives on the board.
Along with the implementation of the 2018 UK Corporate Governance Code, new reporting obligations under section 172 of the UK’s Companies Act 2006 have been introduced under the Companies (Miscellaneous Reporting) Regulations 2018.
Red flags that could be indicators of potential negative consequences for the company's long-term prosperity and shareholder value creation.
Shareholders lean on audit committees to be their representatives in discussions with the auditors. Around the world, there are concerns whether audit is fit for purpose and effective in responding to the needs of shareholders and other users of corporate reporting.
Banks recognise the importance of tackling cybersecurity risks and spend billions of dollars to this end, however, their boards lack the necessary expertise to oversee cyber risks.
Banks are shifting away from viewing climate change risks solely as a corporate social responsibility issue, as they understand their financial implications.
AKTIS data demonstrates that there are still barriers to entry in the corporate world for women in MENA
Financial Times: AKTIS data shows that Metro Bank has the lowest refreshment rate and highest tenure next to comparable UK banks
AKTIS data shows that the average tenure on the board of Metro Bank is almost double the average at large and midsized UK banks.
Africa’s biggest asset manager, Public Investment Corporation, faces a governance scandal after accusations of wrongdoing and political interference. Renault has cancelled €30m severance compensation to the former CEO and Chair, Carlos Ghosn, due to his arrest in Japan for financial misconduct at Nissan. British politicians and the High Pay Centre argue for higher employee representation on the board to curb executive pay, while others argue it will have the opposite effect. Check out our February NewsWatch to read more on this and to get the latest news in the corporate governance world!
In this month’s issue of the Aktis NewsWatch you can read about Santander reversing its decision to hire UBS banker Andrea Orcel as new CEO, while Danske bank is facing new allegations for money laundering in France. Investors are criticising the proposed reform to executive pay in Germany for being too inflexible, and proposed Swiss legal reforms to protect whistle blowers are also being criticised for not being far reaching enough. Read our latest NewsWatch to find out more and to stay up to date on the latest news in the corporate governance world!
There is a great deal of debate about how to facilitate behavioural change within banks. One way could be to have regulators on site, as ASIC is planning to do in Australia following a spate of banking scandals. But is it the right approach? By Lisa Andersson, head of research at Aktis.
The last Aktis NewsWatch for this year is our first to feature governance beyond banks to reflect our expanding database and widening focus to include other industries. This month you can read about the critique of UK’s Big Four accountancy firms, why improved communication on cybersecurity between the board and management is crucial, and the arrest and release of Huawei’s CFO in Canada as the US government alleges that the company violated sanctions against Iran. Read our latest NewsWatch to stay up to date in the corporate governance world!
BEIS has published updated guidance for the companies (Miscellaneous Reporting) Regulations 2018, which contains several new reporting provisions for private and public companies. Goldman Sachs is under pressure for its role in the 1MDB scandal and there have been police raids at Deutsche bank offices as a result of investigations triggered by the Panama Papers. Read our latest NewsWatch to find out more and to stay up to date on the latest news in the bank governance world!
This article by Helen Avery published in Euromoney, based on Aktis' data, focuses on gender lens investing and notes that banks still have some way to go to reach full gender equality.
The EU’s failure to effectively address and prevent money laundering can be illustrated by two recent examples involving Europe’s leading banks. Just last week, Danske Bank’s Chief Executive resigned following “the largest money laundering scandal in European history” while the Swiss financial supervisory authority has judged the anti-money laundering protocol at Credit Suisse inadequate.
In the October edition of Aktis' NewsWatch, you will find key recent governance updates from around the world all in one convenient place.
The public’s trust is at a premium for major banks after the global financial crisis a decade ago and the high-profile banking scandals that have since unfolded. Questions about how to restore that trust abound, including whether leadership at some companies even have an interest in looking inward.
Why should companies care about corporate governance? And why is international experience and diversity on the board important? To find out, read our August NewsWatch. It includes the latest banking governance news around the world.
Good news for compliance and counter corruption in companies as the first business integrity rating agency,Sigma, is set to launch this month. The same company has found that Gulf Cooperation Council (GCC) banks are more transparent than in many other countries. Finma, the Swiss regulator questions the Co-operative structure and says it may contribute to weaker governance practices than in non-cooperatives. Read our latest NewsWatch to find out more about this, and to stay up to date in the bank governance world!
Aktis is proud to have contributed to Russia's 10th edition of the National Report on Corporate Governance. The scope of the 10th edition focuses on a variety of topics from the institutional and socio-cultural aspects of corporate governance in Russia to the effectiveness of corporate governance practices in organisations with state participation. Aktis’ contribution incorporates governance best-practice with a strong focus on Western Europe’s 25 largest banks both before and after the financial crisis.
Goldman Sachs announces their new initiative to support women in business, two leading European banks are looking at the possibility of a merger and UAE Central Bank introduces new regulations as it wants a more active supervision of the banking sector. Read our June NewsWatch to find out more about this, and to find the latest news in the bank governance world! Read more.
Written by our very own Lisa Andersson (Head of Research) and Stilpon Nestor (Founding Chairman), this article explores bank governance a decade on from the financial crisis which substantially rocked the banking universe. Appropriately titled, ‘Governance of the 25 Largest European Banks a Decade After the Crisis’, this article combines Aktis data with expert analysis. Exploring themes such as board size, composition, diversity and tenure, as well as composition of top management committees both before and after the crisis, this article is not one to miss.
Stay up to date on corporate governance news in the banking sector by reading the Aktis News Watch. Each month we provide insight in to the most relevant news related to banking governance across Europe, US, Oceania and MENA. The Aktis News Watch is an easy way to stay up to date on changes and trends in bank governance.