UK - New corporate governance guidelines that require companies to publish levels of abstentions have been welcomed by Pensions Investment Research Consultants.
It pointed out that information provided by publicly-listed companies on voting numbers was often misleading because it included abstentions in the “for” voting summaries.
But under the revised combined code – which incorporates Higgs’s review on corporate governance – companies must publish levels of abstentions.
PIRC says this will give a better analysis of the way pension funds are acting on corporate governance.
A PIRC spokesman said: “Many institutional investors use abstentions to send a warning signal to the company that they have concerns about a particular issue.
“Ignoring abstentions allows the company to portray a higher level of support.”
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.