EUROPE - The CFA Institute and Foundation for Governance Research and Education (FGRE) have joined forces to study the challenges facing responsible investors.
The report, which will be published in March 2011, aims to outline better governance practices for institutional investors and comes soon after the launch of the Financial Reporting Council's Stewardship Code in July.
Charles Cronin, co-chairman of the taskforce and head of, EMEA, standards and financial market integrity at CFA Institute, said: "Following the financial crisis, many stakeholders around the world are seeking ways to improve corporate governance. The spotlight of attention is increasingly being focused on what the investment community can do to help promote better governance practices at firms in which they invest.
"Through this project, we are seeking to identify any significant impediments that impact an institutional investor's ability to get involved and propose solutions to address them. The findings from the research will be a timely complement to initiatives such as the Stewardship Code for Institutional Investors launched by the Financial Reporting Council in the UK, as well as to inform discussions relating to the Green Paper on Corporate Governance issued by the European Commission, among other proposals."
CFA Institute and FGRE have established a task force of senior figures from the issuer, investment management and trustee communities to steer the project. The current advisory panel includes: Cronin, FGRE founder Professor John Mellor;
Schroders Group chief investment officer Alan Brown; Carmine Di Noia, deputy director general, head of capital markets and listed companies, ASSONIME; Will Goodhart, chief executive of the CFA Society of the UK; Universities Superannuation Scheme trustee Howard Jacobs; and David Pitt-Watson, chairman of Hermes Focus Asset Management.
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