ECGS is a joint venture of independent local market experts which have come together to provide specialist governance assessments and informed proxy voting advice, offering institutions access to unrivalled experience on corporate governance and responsible investment issues.
Last week the Financial Services Authority (FSA) took the unexpected step of intervening to require disclosure of short positions in respect of companies undertaking rights issues. The FSA is introducing a provision to its Code of Market Conduct, to come into effect from 20th June, which will require the disclosure of positions of 0.25% or more of the issued shares achieved via short selling or by any instruments giving rise to an equivalent economic interest. The obligation will be to disclose positions exceeding this threshold to the market by means of a Regulatory Information Service by 3.30pm the following business day.
Full story . . .Allegations of systematic spying on board members at Deutsche Telekom must be clarified as soon as possible, according to a leading investor rights group. DSW, Germany’s largest association for private investors, has welcomed the news that the German Public Prosecutor has been called in by Telekom and that investigations have been started.
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