Tag #Corporate Governance

Showing 169 to 180 of 263 results

theglobeandmail.com

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Feb 19, 22:13

SEC Shifts Power from Investors to Corporate Boards

The SEC, under acting chair Mark Uyeda, implemented new policies making it harder for investors to initiate corporate reforms on issues such as climate change and director elections, by increasing regulatory burdens on passive funds, limiting investor communication, and making it easier for companie...

SEC Shifts Power from Investors to Corporate Boards

The SEC, under acting chair Mark Uyeda, implemented new policies making it harder for investors to initiate corporate reforms on issues such as climate change and director elections, by increasing regulatory burdens on passive funds, limiting investor communication, and making it easier for companie...

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How do the recent SEC policy changes impact shareholder ability to initiate reforms on issues like climate policy and director elections?

The U.S. Securities and Exchange Commission (SEC), under acting chair Mark Uyeda, implemented new policies that shift power from investors to corporate boards. These changes include stricter requirements for shareholder resolutions, impacting efforts on issues like climate policy and director elections. The SEC also broadened reporting requirements for passive funds, potentially hindering communication between investors and companies.

nbcnews.com

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Feb 18, 22:08

Proposed Delaware Law Could Reinstate Musk's $Tens of Billions Tesla Pay Package

Proposed legislation drafted by Richards, Layton & Finger, a law firm representing Tesla and Elon Musk, seeks to amend Delaware General Corporation Law, potentially reinstating Musk's 2018 Tesla CEO compensation package (worth tens of billions of dollars) that was previously rescinded by the Delawar...

Proposed Delaware Law Could Reinstate Musk's $Tens of Billions Tesla Pay Package

Proposed legislation drafted by Richards, Layton & Finger, a law firm representing Tesla and Elon Musk, seeks to amend Delaware General Corporation Law, potentially reinstating Musk's 2018 Tesla CEO compensation package (worth tens of billions of dollars) that was previously rescinded by the Delawar...

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What are the immediate consequences if the Delaware legislature approves the proposed bill that alters Delaware corporate law?

A Delaware law firm, Richards, Layton & Finger, proposed legislation that could reinstate Elon Musk's tens-of-billions-of-dollars CEO pay package at Tesla, which was previously rescinded by the Delaware Court of Chancery for being inappropriately set by a Musk-controlled board and misleading shareholders. The bill alters Delaware General Corporation Law, potentially lessening scrutiny of self-dealing transactions involving controllers and limiting minority stakeholder access to internal communications.

cincodias.elpais.com

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Feb 15, 01:08

CaixaBank Restructures Board, Ending Bankia Era

CaixaBank is restructuring its board of directors, replacing at least five members, including the president, to conclude the Bankia era, aligning with ECB governance recommendations, and will be finalized at the February 20th board meeting.

CaixaBank Restructures Board, Ending Bankia Era

CaixaBank is restructuring its board of directors, replacing at least five members, including the president, to conclude the Bankia era, aligning with ECB governance recommendations, and will be finalized at the February 20th board meeting.

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What are the immediate consequences of CaixaBank's board restructuring?

CaixaBank is replacing at least five board members, ending Bankia's era within the organization. This includes the replacement of José Ignacio Goirigolzarri with Tomás Muniesa as president, and the likely departure of three Bankia-era independent directors and a representative from Criteria Caixa. These changes will be addressed at the February 20th board meeting.

theglobeandmail.com

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Feb 13, 19:08

Elliott's $5 Billion BP Stake Prompts Strategic Reset

Elliott Investment Management, managing $70 billion, acquired a nearly 5% stake in BP, prompting BP to announce a strategic reset and potentially leading to significant divestments; this follows similar large investments in Honeywell and Phillips 66, showcasing Elliott's pattern of targeting major c...

Elliott's $5 Billion BP Stake Prompts Strategic Reset

Elliott Investment Management, managing $70 billion, acquired a nearly 5% stake in BP, prompting BP to announce a strategic reset and potentially leading to significant divestments; this follows similar large investments in Honeywell and Phillips 66, showcasing Elliott's pattern of targeting major c...

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What is the immediate impact of Elliott Investment Management's nearly $5 billion investment in BP?

Elliott Investment Management, a $70 billion hedge fund, recently acquired a nearly 5% stake in BP, prompting BP to announce a strategic reset and potentially leading to significant divestments. This follows similar activist investments by Elliott in Honeywell and Phillips 66, demonstrating a pattern of targeting large companies for operational and strategic improvements.

smh.com.au

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Feb 12, 10:11

Star Entertainment Ignored Warnings on Criminal Junket Operator

Star Entertainment's directors and executives remained aware of Suncity's alleged criminal activities in 2019, yet continued their business relationship despite internal and external warnings, potentially jeopardizing their casino licenses.

Star Entertainment Ignored Warnings on Criminal Junket Operator

Star Entertainment's directors and executives remained aware of Suncity's alleged criminal activities in 2019, yet continued their business relationship despite internal and external warnings, potentially jeopardizing their casino licenses.

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How did internal reports and media coverage influence Star Entertainment's decision-making regarding its relationship with Suncity?

Star Entertainment's inaction, even after receiving a KPMG report revealing deficiencies in their AML programs and media coverage highlighting Suncity's alleged criminal activities, demonstrates a disregard for regulatory compliance. This prolonged association with Suncity, despite known risks, potentially jeopardized Star's casino licenses and exposed them to AML/CTF violations.

elmundo.es

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Feb 10, 04:07

Government-Influenced CEO Change at Telefónica Sparks Investor Concerns

The Spanish government's replacement of Telefónica's CEO, José María Álvarez-Pallete, with Marc Murtra, has triggered widespread concern among analysts due to perceived political influence, potentially harming the company's stock valuation and investor confidence.

Government-Influenced CEO Change at Telefónica Sparks Investor Concerns

The Spanish government's replacement of Telefónica's CEO, José María Álvarez-Pallete, with Marc Murtra, has triggered widespread concern among analysts due to perceived political influence, potentially harming the company's stock valuation and investor confidence.

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What are the immediate market consequences of the government-influenced CEO change at Telefónica, and how does this affect investor confidence?

Telefónica's stock performance has underperformed European sector indices this year, significantly lagging behind competitors like Telecom Italia, Deutsche Telekom, and Orange. The recent replacement of CEO José María Álvarez-Pallete with Marc Murtra, a government appointee, has raised concerns among analysts about increased political risk and potential negative impacts on the company's valuation.

smh.com.au

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Feb 19, 22:13

ASIC Investigates Super Retail Group Following Whistleblower Disclosure

An employee's emergency disclosure to the Australian Assistant Treasurer alleging a cover-up of an alleged affair between Super Retail Group's CEO and head of HR sparked an ASIC investigation, involving compulsory staff interrogations and highlighting concerns over the treatment of two former whistl...

ASIC Investigates Super Retail Group Following Whistleblower Disclosure

An employee's emergency disclosure to the Australian Assistant Treasurer alleging a cover-up of an alleged affair between Super Retail Group's CEO and head of HR sparked an ASIC investigation, involving compulsory staff interrogations and highlighting concerns over the treatment of two former whistl...

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How did Super Retail Group's handling of the initial whistleblower complaint contribute to the escalation of the scandal?

The Super Retail Group scandal involves multiple whistleblowers, alleging a cover-up of an alleged affair between the CEO and head of HR, along with accusations of bullying, harassment, and misuse of funds against two former lawyers. ASIC's intervention, prompted by an emergency disclosure, underscores the seriousness of the allegations and the potential breaches of corporate law and whistleblower protections. The case highlights the significant consequences of alleged corporate misconduct and the role of whistleblowers in uncovering such issues.

cincodias.elpais.com

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Feb 18, 10:09

BBVA Concludes 2018 Bonus Payments, González Payment Unconfirmed

BBVA completed final 2018 bonus payments in 2024, totaling €2.8 million for senior management, but hasn't disclosed if former chairman Francisco González, facing legal issues related to the Villarejo case, received his €400,000 share; the bank can reclaim bonuses until 2025.

BBVA Concludes 2018 Bonus Payments, González Payment Unconfirmed

BBVA completed final 2018 bonus payments in 2024, totaling €2.8 million for senior management, but hasn't disclosed if former chairman Francisco González, facing legal issues related to the Villarejo case, received his €400,000 share; the bank can reclaim bonuses until 2025.

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How did BBVA structure its deferred bonus payments in 2018, and what conditions are attached to reclaiming those bonuses?

BBVA's final bonus payments for 2018, including deferred compensation, highlight the bank's complex remuneration structure and its potential legal exposure. The delayed payments, structured in 2018 with 40% paid immediately and the rest deferred until 2024, now allow the bank to assess whether to reclaim bonuses from former executives involved in the Villarejo case. This decision hinges on whether the bank deems the alleged actions to have caused significant reputational damage.

smh.com.au

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Feb 13, 07:09

MinRes Boss Pays $3.8 Million Penalty Amid Offshore Tax Scandal

MinRes boss Chris Ellison paid a $3.8 million penalty for his role in a decade-long offshore tax scheme, triggering a governance overhaul at the $6.6 billion mining company and impacting its share price by over $2 billion; a new board chair will be appointed within six months.

MinRes Boss Pays $3.8 Million Penalty Amid Offshore Tax Scandal

MinRes boss Chris Ellison paid a $3.8 million penalty for his role in a decade-long offshore tax scheme, triggering a governance overhaul at the $6.6 billion mining company and impacting its share price by over $2 billion; a new board chair will be appointed within six months.

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What are the immediate financial and governance consequences of the offshore tax scandal at MinRes?

MinRes boss Chris Ellison paid $3.8 million to settle penalties resulting from an offshore tax scandal. The scandal, involving the use of overseas entities to avoid tax, led to a governance overhaul at the company and a planned replacement of the board chair within six months. Ellison also forfeited bonuses and made a charity donation.

welt.de

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Feb 13, 19:08

BGH Ruling Ends Power Struggle at Heckler & Koch

The German Federal Court of Justice (BGH) ruled in favor of CDE, granting it over 80% of voting rights in Heckler & Koch, ending a power struggle with Andreas Heeschen and ensuring the stability of the German arms manufacturer.

BGH Ruling Ends Power Struggle at Heckler & Koch

The German Federal Court of Justice (BGH) ruled in favor of CDE, granting it over 80% of voting rights in Heckler & Koch, ending a power struggle with Andreas Heeschen and ensuring the stability of the German arms manufacturer.

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What is the immediate impact of the BGH's decision on Heckler & Koch's shareholder structure and operational stability?

The German Federal Court of Justice (BGH) rejected Andreas Heeschen's appeal, solidifying CDE's control of Heckler & Koch with over 80% of voting rights. This ends a years-long power struggle between the two major shareholders, resolving the uncertainty surrounding shareholder votes and allowing Heckler & Koch to proceed with future shareholder meetings.

cnbc.com

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Feb 11, 07:07

Record Dividend Payouts Surge in China Amidst Government-Driven Reform

Chinese listed companies paid out a record 2.4 trillion yuan ($328 billion) in dividends last year, spurred by government incentives to improve corporate efficiency and attract investment, with experts predicting this trend to continue.

Record Dividend Payouts Surge in China Amidst Government-Driven Reform

Chinese listed companies paid out a record 2.4 trillion yuan ($328 billion) in dividends last year, spurred by government incentives to improve corporate efficiency and attract investment, with experts predicting this trend to continue.

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What are the key factors driving the record-high dividend payouts and share buybacks by Chinese companies?

Chinese listed firms distributed a record 2.4 trillion yuan ($328 billion) in dividends last year, with share buybacks reaching an all-time high of 147.6 billion yuan. This surge is expected to continue, potentially reaching $3.5 trillion in cash distribution this year, driven by government incentives and a shift in corporate mindset towards shareholder returns.

theguardian.com

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Feb 10, 10:08

Star Executives Accused of Prioritizing Profit Over Anti-Money Laundering Compliance

Former executives at The Star Entertainment Group face legal action from the Australian Securities and Investments Commission (ASIC) for allegedly prioritizing profit over risk management, ignoring evidence of money laundering linked to criminal activity at their Sydney, Brisbane and Gold Coast casi...

Star Executives Accused of Prioritizing Profit Over Anti-Money Laundering Compliance

Former executives at The Star Entertainment Group face legal action from the Australian Securities and Investments Commission (ASIC) for allegedly prioritizing profit over risk management, ignoring evidence of money laundering linked to criminal activity at their Sydney, Brisbane and Gold Coast casi...

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What specific actions by The Star's executives demonstrate a prioritization of profit over compliance with anti-money laundering regulations?

The Star Entertainment Group's former executives are accused of prioritizing profits over risk management, failing to act on blatant signs of money laundering by junket operators linked to organized crime. This involved ignoring suspicious activities like cash delivered in eskies and staff hiding from CCTV cameras at their Sydney casino, Salon 95. The Australian Securities and Investments Commission (ASIC) alleges these actions breached their legal and regulatory obligations.

Showing 169 to 180 of 263 results