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!
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!
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.
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!
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.
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.