UK - Pension funds with investments in corporate bonds are to be given a voice on corporate governance and SRI issues.
The move is being spearheaded by Isis Asset Management, which intends to become the first UK fund manager to champion the rights of corporate bond holders.
Corporate bond holders do not have the same rights as shareholders, because they cannot vote on company resolutions at annual general meetings.
But director of institutional funds Michel Bernard said bond issuers must still take large institutional investors seriously.
“Unlike equities, bonds redeem and you need to issue them over and over again. It is vital for bond issuers to have access to large investors in bonds, without which they cannot issue bonds to refinance their maturing debt.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.