All Corporate governance articles

  • Norges Bank
    News

    NBIM to lead class action for first time, joining AP7 against SVB

    2023-12-01T17:02:00Z

    AP7 reveals it is also leading class action in US against failed Signature Bank

  • LGIM increases activist voting
    News

    Investor coalition calls for phase out of unequal voting rights

    2023-12-01T14:33:00Z

    It made recommendations to phase out dual-class structures tailored at different financial market participants

  • Power station
    News

    ISSB: Scope 3 emissions emerge as key challenge

    2023-12-01T14:14:00Z

    ISSB’s Transition Implementation Resource Group will aim to understand what challenges constituents are facing and attempt to avoid diversity in practice

  • Human rights, corporate wrongs & investment impacts
    News

    Investors coalition creates platform to strengthen human rights stewardship

    2023-11-30T15:13:00Z

    Labour Rights Investor Network demand oversight over labour rights by senior management of investee companies

  • Help Wanted- Why Smart Companies Recruit for Diversity
    News

    IPE Conference: Asset managers urged to implement diversity policies

    2023-11-30T14:44:00Z

    More diversity on decision-making panels leads to better investment decision and even outperformance of peers

  • construction site
    News

    BpfBouw crowned most sustainable Dutch pension fund

    2023-11-28T13:56:00Z

    The scheme for the Dutch construction sector has taken the first place from ABP

  • Rio Tinto
    News

    Mining 2030 Commission gets supports from 82 investors as members named

    2023-11-22T09:46:00Z

    Among the 82 investors that are backing the initiative are APG in the Netherlands, USS in the UK, US fund CalSTRS and Canadian pension fund CDPQ

  • Paul Lee
    News

    Stewardship and engagement hires decline, says Redington

    2023-11-21T15:40:00Z

    Survey shows that 30% of managers are unable to evidence ESG views driving specific changes in investment portfolios

  • Meeting
    News

    Net Zero engagement: asset owners publish rules for managers

    2023-11-16T09:50:00Z

    The NZAOA asks investors to get engagement programmes assured and to focus on outcomes

  • FCA
    News

    ‘Further work required’ on ESG and sustainable investment funds, says FCA

    2023-11-16T09:22:00Z

    The regulator expects asset managers to address the good and poor practices outlined in the report to meet the requirements of SDR

  • dreamstime_s_172747142
    Special Report

    Colorado fire and police settle with Cognizant

    December 2023 (Magazine)

    In August 2021, Fire and Police Pension Association Colorado (FPPA), alongside other plaintiffs, reached a settlement with Cognizant Technology Solutions Corporation for $95m (€88.7m).

  • dreamstime_m_73186983
    Special Report

    USS settlement with Petrobras and PWC Brazilian subsidiary

    December 2023 (Magazine)

    In February 2018, the Universities Superannuation Scheme (USS) reached a settlement with PWC’s Brazilian subsidiary as part of a class action lawsuit against Petrobras.

  • dreamstime_l_190604621
    Special Report

    Double-edged benefits of litigation financing

    December 2023 (Magazine)

    European pension funds have become familiar with class action litigation, often tying it in with their fiduciary responsibilities as shareholders. Cases against UBS regarding its takeover of Credit Suisse; EY as auditor of fraudulent German payments firm, Wirecard; and Silicon Valley Bank, which collapsed in March, are the headliners of 2023.

  • Letter from Australia
    Opinion Pieces

    Super funds voice corporate governance concerns with Australian business

    December 2023 (Magazine)

    At its recent annual general meeting in Melbourne, Qantas, Australia’s national carrier, was lambasted by irate shareholders over a litany of grievances, not least the role of chairman Richard Goyder and the board over what shareholders saw as the mismanagement of the airline.

  • IPE Dec 2023 Class Actions supplement cover
    Special Report

    Class actions by European investors on the rise in the name of good governance and fiduciary duty

    December 2023 (Magazine)

    Deepwater Horizon, Volkswagen (Dieselgate), Wirecard, Silcon Valley Bank and Credit Suisse are recent, high-profile examples of corporate wrong doing resulting in losses for investors. As stewards of retirement savings and guardians of beneficiaries’ interests, it is only natural that pension funds should scrutinise the investments they are making – or outsourcing to asset managers to make – on their members’ behalf. This is a central plank of fiduciary duty. 

  • dreamstime_l_13015087
    Special Report

    European pension fund class actions take off on a steep learning curve

    December 2023 (Magazine)

    What positive developments can we report relating to class actions in UK and European pension funds? What regulatory challenges still need to be overcome to facilitate (for instance, simplify) the environment for class action by UK and European institutions? Where are the key gaps in knowledge among pension funds?

  • 12.23 IPE Class Action Overview GM Solomon
    Special Report

    Class actions: Is Europe catching up with the US?

    December 2023 (Magazine)

    Europe’s institutional investors are latching on to the rewards of joining class actions against investee companies. Many of these are securities lawsuits, pursued when a publicly listed company has not properly disclosed or has misrepresented significant information, affecting the share price when the truth emerges. But so far, the vast majority of these have been in the US. In 2022, nearly $4.9bn (€4.6bn) was recovered in the US courts, according to Institutional Shareholder Services. So, what about class actions in Europe? “The US has had a class action system for over a hundred years that can be adopted for almost every cause of action, whereas the UK has only had class actions since 2015 and it is only available for competition cases,” says Harry McGowan, partner in the securities litigation department at law firm Stewarts. 

  • 12.23 IPE Class Action Case Study Colorado Fire and Police Lindahl
    Special Report

    Shareholder class actions in Europe: the benefits and risks of participating

    December 2023 (Magazine)

    Litigation outside the United States, and in particular in Europe, has been on the rise since the US Supreme Court’s landmark 2010 decision in Morrison v. National Australia Bank. In Morrison, the US Supreme Court ruled that “foreign” (non-US) investors cannot bring federal securities lawsuits in US courts to recover investment losses relating to foreign-issued securities traded on foreign exchanges (known as “F-cubed” claims). As former Justice Antonin Scalia explained, the concern was to prevent the US from becoming “the Shangri-La” of class-action litigation for lawyers representing those allegedly cheated in foreign securities markets. Although federal courts have since struggled to apply Morrison’s effect test consistently, it is clear, more than 10 years later, that the decision has had its intended effect. 

  • dreamstime_m_41906563
    Special Report

    Managing risk in securities class actions

    December 2023 (Magazine)

    Securities class actions (SCA) are a form of collective redress. Shareholders seek compensation for losses suffered as a result of some form of corporate misconduct. They rely upon free market forces, its rules, regulations and factors affecting market price. For professional shareholders such as institutional investors, it is best to look upon any involvement with SCAs as another form of investment yielding a potentially, significant return in future. The duties of any institutional investor – whether as a fiduciary or otherwise – is to focus on what is in the best interests of the fund and its beneficiaries. It does not require the expenditure of more money (or the value of management time) than is likely to be received. What is necessary is the consideration of the issues and the management of risks.

  • 12.23 IPE Class action CM lessons learned SUMMERFIELD
    Special Report

    Building a class action toolbox for investors

    December 2023 (Magazine)

    As class actions have started to play an increasingly important role in good governance for UK and European pensions funds, the need to establish best practice in the field is growing.