Compliance Monthly archive

Jan 31, 2020
SEC investor panel queries proxy reforms
The SEC should reconsider what it is trying to achieve in revamping the regulatory framework governing proxy advisers and shareholder proposals – and revise its rulemaking proposals in the area, according to the commission’s own investor advisory committee (IAC). ‘While we appreciate the commission’s effort to seek a productive balance in a changing environment for corporate governance and shareholder engagement, we are concerned that the [proxy advisers and...
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Jan 29, 2020
Marsh & McLennan’s Kuratek has stellar governance year
It’s been a banner year for Marsh & McLennan Companies’ (MMC) Connor Kuratek, in which he traveled from one side of the world to the other to help with governance issues. Kuratek only joined the firm in 2016 but was handed key roles on two of the most important issues facing MMC: an industry-wide investigation by the Australian Royal Commission, and the $6.5 billion acquisition of the UK’s Jardine Lloyd Thompson (JLT), MMC’s largest ever M&A deal. Hi...
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Jan 27, 2020
How Comscore takes a data-based approach to compliance
Comscore is a great example of using technology to move a compliance and ethics program forward. Centralizing and automating its training program over the past year has brought benefits in terms of improving the timely uptake of courses, being able to spot areas that need attention and fostering a compliance-focused culture. Our judges appreciated Comscore’s use of data analytics as part of a ‘comprehensive’ program. Comscore’s more than 1,500 employees acro...
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Jan 23, 2020
Inside RBC’s work to improve corporate governance
Canada’s Office of the Superintendent of Financial Institutions (OSFI) in September 2018 issued a revised corporate governance guideline that was more principles-based and contained fewer prescriptive elements. In doing so, OSFI granted boards at financial services firms greater discretion over how they meet its corporate governance expectations. Royal Bank of Canada’s (RBC) corporate secretariat and the corporate and oversight functions used this increased flex...
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Jan 08, 2020
CII frustrated in seeking SEC proxy adviser data
The Council of Institutional Investors (CII) is finding itself frustrated in its efforts to obtain SEC information about alleged errors committed by proxy advisory firms that is being used to help support proposed regulation of those firms. The investor group in November filed a Freedom of Information Act (FOIA) request seeking the inform...
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