A certified "public interest" nonprofit
Make a new forum entry
| Next Boot Camp is January 31st & March 4th! Sign Up Now! |
Great series of videos in which Richard Levy, chairman of Varian Medical Systems, talks about what makes an effective board with Jim Balassone, executive-in-residence at the Markkula Center for Applied Ethics at Santa Clara University.
[ Press Release ] San Francisco, Calif. (April 12, 2012) – Glass, Lewis & Co., the leading independent governance services firm, today announced the release of its new, free Issuer Engagement Portal, which will enhance communication and understanding among issuers, investors and Glass Lewis.
From Shearman & Sterling, we have received the followingdetailedmemo about disclosure issues arising from M&A transactions in the U.S.:
[ BDTI is seeking to collect any and all public comments recently submitted to TSE per is public comment process. We have recently received this one from Steven Towns of Active Investing. Please feel free to send your comment to BDTI at info@bdti.or.jp. ]
Sent: Thursday, March 29, 2012 12:36 PM
To: jojo-kikaku@tse.or.jp
Cc: steven.towns
Subject: Public Comment (Restoring confidence in the securities mkt)
Dear Tokyo Stock Exchange Listing Department:
GlobalProxyWatch's recent Newsletter summarized Michael Woodford'sriveting speech at the spring meeting of the Council of Institutional Investors, including his advice to the TSE to promulgate rules requiring issuers to provide executive directors with comprehensive training “to better acquaint them with their legal duties and liabilities.”
Below is an excerpt. You can sign up for Global ProxyWatch's popular Newsletter here: http://www.proxywatch.com/
The followingentry appeared as part of GovernanceMetrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and accounting risk factors.
April 03, 2012
Hi all, writing to say that I submitted, as a US-based investor in Japanese equities, a comment that seems to touch on points similar to those BDTI advocates. In summary, since public companies' in Japan have boards comprised primarily of executive directors, training for a lone, or small majority of, outside director(s) is insufficient. More independent directors are of course welcomed from the point of view of investors. However, there needs to be assurance that executive and outside directors are qualified to serve as such.
Japan Society of California made Comments on the TSE’s February 28, 2012 Revisions to Listing Rules Regarding Corporate Governance to Restore Confidence in the Securities Market
In their comments, they brought up a topic regarding the education of directors.
The CFA Institute Standards and Financial Market Integrity Division and CFA Society of Japan made comments on the main item in the document, namely on the introduction of independent directors. And to ensure proper fulfillment of the function of independent director, CFA Institute strongly suggests proper training of directors, as below.
From: MICHAEL WOODFORD
Sent: 26 March 2012 23:06
To: 'jojo-kikaku@tse.or.jp'
Subject: PUBLIC COMMENT IN RESPECT OF THE TOKYO STOCK EXCHANGE'S REVISIONS TO LISTING RULES REGARDING CORPORATE GOVERNANCE TO RESTORE CONFIDENCE IN THE SECURITIES MARKETS
Dear Sirs,