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Monday, September 16, 2019

Yearly Archives: 2015

Three mandates and a proxy

In 2010, in the wake of the global financial crisis, the US Congress passed the Dodd-Frank Act (DFA). This mammoth legislation dealt primarily with regulation of financial institutions. However, it also included a number of provisions related to executive compensation that impact all US publicly traded companies. Five years later, several of these provisions have yet to be implemented. The US Securities and Exchange Commission’s (SEC) flurry of activity over the past several months has moved three of the outstanding DFA provisions closer to implementation.

A clean sweep in Brazil

Even though the excitement of the Fifa World Cup had already faded away, in 2014 the international media once again turned its attention to Brazil. This time it was not to report on the thrills of the sport, but to show the country’s new-found efforts to wage a seemingly Herculean war against corruption. What started out as an unassuming investigation by the federal police regarding allegations of money laundering at local gas stations and car washes (hat-tip to AMC’s series Breaking Bad) quickly became one of the largest anti-corruption investigations in history – dubbed fittingly as Operação Lava Jato or Operation Car Wash.

Reflections on the Yates Memo

The Department of Justice (DOJ) released a potential game-changing enforcement policy to DOJ staff on 9 September 2015 called ‘Individual Accountability for Corporate Wrongdoing’ (the Yates Memo). The Memo, publicised broadly, is receiving unprecedented attention and significant concern and with good reason.

Time for reflection on corruption

It was just a watch – albeit a very expensive one – that reignited the Russian public’s interest, as well as that of the rest of the world, in the level of bribery and corruption taking place in the former Soviet state. On 1 August 2015, Dmitry Peskov, Vladimir Putin’s official spokesman, married Tatiana Navka, an ice dancing gold medallist at the 2006 Olympics. Several pictures of the nuptials show Peskov sporting a Richard Mille RM 52-01 watch, which has an estimated value of between $400,000 (£260,310) and $670,000 (£436,020) – since only 30 of these watches exist, estimates vary about their true price tag. Not surprisingly, the watch’s value is far in excess of Peskov’s reported annual government income of approximately US$110,000 (£71,586).

Information Governance: The path from now to 2020

The future of Information Governance (IG) is bright because it fills a critical corporate need – to extract maximum value from available information. IG is both an art and a science. We know the science will improve by 2020 and the art will grow as corporate leaders’ recognise IG’s contribution to the bottom line.

Benefits to building board relationships

Engagement between directors and shareholders is on the rise, admittedly from a very low base in some markets and it’s a trend we expect to endure. Why? Because there are tangible benefits to companies and investors from having direct dialogue on key corporate governance matters, in their broadest sense, including how boards oversee management’s approach to the material environmental and social impacts of the business.

Ethical approach at Telstra

We are honoured to have received the 2015 Ethical Boardroom Best Corporate Governance Award for the Telecoms market. Telstra is Australia’s leading telecommunications company, offering a full range of communications services and competing in all telecom markets. In Australia we provide more than 16.7 million retail mobile services, 7.3 million fixed voice services and 3.1 million retail fixed broadband services. We also have an international presence spanning 20 countries, including a growing presence in Asia.

DEXUS sets the tone at the top

As CEO and executive director of the board of DEXUS Property Group, I am proud of our strong record of corporate governance. Good governance originates from the board and is well-articulated to senior management and across the business. Always aware that there is opportunity to enhance our governance, DEXUS is embarking on a period of refocus. One of the key foundations underlining our governance is our acknowledgement of the importance of ‘tone at the top’. Perhaps the biggest challenge for a board is to maintain oversight and not get involved in the day-to-day management of the business. The role of a good board is to oversee robust policies that support the success of the business.

Building lasting value at CDL Singapore

City Developments Limited (CDL) is a property and hotel conglomerate listed in Singapore and one of Singapore’s largest companies by market capitalisation. As Singapore’s property pioneer since 1963 with an impressive track record of having developed more than 36,000 luxurious and quality homes across diverse market segments and one of Singapore’s biggest landlords, CDL has over the past 50 years been committed to continually create value for our investors and stakeholders.

Mindtree: Roots to success

At Mindtree, we look upon good corporate governance practices as a key driver of sustainable corporate growth and long-term stakeholder value creation, explains Krishnakumar Natarajan - Chief Executive Officer of Mindtree

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