Sinead's Feed
May 28, 2012

Bond investors could desert banks over new rules

LONDON, May 28 (Reuters) – Bond investors say they could
stop funding Europe’s fragile banks if rules designed to
insulate them from shocks are put in place, making financial
institutions even more vulnerable to the debt crisis and
possibly more reliant on taxpayer money.

Global regulators want bondholders to give up a privileged
position which gives them a priority over other investors if a
bank runs into trouble, in favour or people who deposit their
money in an account.

May 8, 2012

UK wealth managers face regulatory crackdown

LONDON, May 8 (Reuters) – Investment managers are risking
f ines, career-long bans and even jail time by unwittingly
breaking compliance rules, consultants and lawyers warn, as the
regulator starts to get tough.

Fund firms and asset managers responsible for millions of
pounds of clients’ cash have so far been largely spared the
intense scrutiny other financial professionals have got used to
in the fallout from the global financial crisis.

May 7, 2012

Analysis: Investor protest votes on pay here to stay

LONDON (Reuters) – Company directors will remain under pressure from shareholders over executive pay long after the market downturn ends and lawmakers stop the heckling that has helped prompt votes against remuneration policies at this year’s annual meetings.

Investors and directors say the days of shareholders rubber-stamping company resolutions at Annual General Meetings (AGMs) is over and directors will have to get used to investors being more vocal on many areas of company business.

May 7, 2012

Investor protest votes on pay here to stay

LONDON, May 4 (Reuters) – Company directors will remain
under pressure from shareholders over executive pay long after
the market downturn ends and lawmakers stop the heckling that
has helped prompt votes against remuneration policies at this
year’s annual meetings.

Investors and directors say the days of shareholders
rubber-stamping company resolutions at Annual General Meetings

May 3, 2012

French CEOs to feel the pinch if Hollande wins

PARIS/LONDON (Reuters) – For Henri Proglio, outspoken chief executive of French utility EDF (EDF.PA: Quote, Profile, Research, Stock Buzz), a victory for Socialist Party candidate Francois Hollande in Sunday’s presidential poll could prove particularly costly.

Proglio, who earned 1.6 million euros ($2.1 million) last year, could be one of the most prominent victims of the cap on CEO pay at state-controlled companies Hollande advocates, but many more top French executives will also have a wary eye on the forthcoming vote.

Apr 29, 2012

Campaign group rallies UK public against boardroom “fat cats”

LONDON, April 30 (Reuters) – Lobby group FairPensions is
calling on British savers to demand tougher action from money
managers in the fight against overpaid corporate executives, who
it says blight British industry.

Even though pension funds and individual savings account
(ISA) providers hold hefty stakes in Britain’s elite companies,
FairPensions believes the average consumer has been robbed of
influence in the campaign to curb bonuses and salaries by fund
firms who fail to reflect their clients’ views in votes on pay.

Apr 25, 2012

Low returns stir Europe-wide revolt on bankers’ pay

LONDON, April 25 (Reuters) – High levels of pay among senior
bankers are becoming a lightning rod for investors increasingly
dissatisfied with the paltry returns they are getting from
European banks and this is likely to stir them to revolt at
upcoming shareholders’ meetings.

The focus on disappointing dividends for investors and
generous remuneration for bankers will increase pressure on an
industry already facing criticism from the public and
politicians for its reluctance to accept its share of
responsibility for the global financial crisis.

Apr 23, 2012

Axiom hedge fund portfolio waives management fee

LONDON, April 23 (Reuters) – A fund that invests in an index
of EU-regulated hedge funds is waiving its annual charge to
clients, a rare move in an industry known for high fees, in a
bid to win back hedge fund investors driven away by the
financial crisis.

The Axiom UCITS Alternative Investable Index Fund, launched
in December 2010, has dropped its 1 percent management fee and
replaced it with a 10 percent performance fee, it said on
Monday.

Apr 23, 2012

UBS banker wins appeal against FSA

LONDON (Reuters) – The national financial watchdog has lost a key test of its powers to punish bankers for alleged supervision failures when a fine on a senior UBS banker was overturned by a court.

In a rare successful appeal against a fine imposed by the regulator, John Pottage was cleared of misconduct by Britain’s Upper Tribunal over compliance failings that occurred under his supervision at UBS’s British wealth management business, which he ran.

Apr 23, 2012

UBS banker wins appeal against UK watchdog

LONDON (Reuters) – Britain’s financial watchdog has lost a key test of its powers to punish bankers for alleged supervision failures when a fine on a senior UBS banker was overturned by a court.

In a rare successful appeal against a fine imposed by the regulator, John Pottage was cleared of misconduct by Britain’s Upper Tribunal over compliance failings that occurred under his supervision at UBS’s British wealth management business, which he ran.