By Cristie Ford https://www.law.ox.ac.uk/business-law-blog/blog/2017/06/has-financial-regulation-over-last-thirty-years-been-one-huge (Spoiler: if the scholarship is any guide, the answer is, pretty much, no). In 2009, Lord Adair Turner charged that: ‘An underlying assumption of financial regulation in the US, the UK and across the world, has been that financial innovation is by definition beneficial, since market discipline will winnow out any… Read More Has (Financial) Regulation Over the Last Thirty Years Been One Huge Neoliberal Mistake?
By Tegan Valentine On Monday June 5, 2017 the U.S. Supreme Court issued its ruling on Kokesh v. SEC. In Kokesh the Court was asked to consider whether disgorgement should be held to the standards set out in the United State’s federal statute of limitations law. Ultimately, the Court determined that a five-year statute of… Read More Kokesh v SEC – Disgorgement and the Statute of Limitations
Originally shared by the Canadian Foundation for Advancement of Investor Rights FAIR Canada Issues White Paper Entitled “What About the Investors?” Toronto (May 18, 2017) – FAIR Canada and CARP today announced that they believe the proposed cooperative capital markets regulator (CCMR) is not in the interests of ordinary Canadians. FAIR Canada and CARP are… Read More FAIR Canada and CARP Call for Major Changes to Proposed New Regulator
By Lawrence E. Ritchie, Robert M. Yalden, W. David Rankin – Osler, Hoskin & Harcourt LLP Originally published May 12, 2017 at osler.com In response to a reference from the Government of Québec, the Québec Court of Appeal has concluded that while the governance framework for the co-operative capital markets regulatory regime, as proposed, is unconstitutional,… Read More Québec court finds aspects of securities model unconstitutional
By Anita Anand Bombardier decided yesterday to defer payment of a portion of bonuses to senior management which represented a 48 percent increase in compensation over the previous year. This move is insufficient. We have in Bombardier a company in trouble: it has laid off employees, delayed performance of its contracts and taken federal and… Read More Serious Governance Problems at Bombardier
By Anita Anand The boards of the Royal Bank and TD have recently allowed shareholder proposals requesting that shareholders who hold a three per cent stake to nominate a director to the board and to include nominees of the proxy voting form. So-called “proxy access” has arrived in Canada. To be clear, those who favour… Read More Shareholder engagement takes a front seat
By Anita Anand and Krupa Kotecha http://www.theglobeandmail.com/report-on-business/rob-commentary/canadas-approach-to-board-diversity-needs-a-rethink/article34386450/ Earlier this month, State Street Global Advisors erected a statue of a little girl directly facing Wall Street’s iconic bull. The so-called “fearless girl” statue is a symbol of State Street’s somewhat timid ultimatum: If the corporations in which it invests do not take measures to improve boardroom… Read More Canada’s approach to board diversity needs a rethink