In 18 January 2013 ICSA published a guidance note on ”Liability of non-executive directors: care, skill and diligence“. From the accompanying press release:
“The latest ICSA guidance note suggests ways in which NEDs can approach their work which would also allow them to demonstrate to a regulator, or in a court of law, that they had executed all necessary steps to reduce their liability exposure.read more »
Stewardship: ICSA launches consultation on ‘improving engagement practices by companies and institutional investors’
On 12 October 2012 ICSA announced that a “steering group of industry experts – companies, investors and other key stakeholders – has today launched ‘Improving Engagement Practices by Companies and Institutional Investors’, a consultation document on stewardship”. The ICSA press release is here and the consultation document is here.
From the press release:
“Areas covered in the consultation document include:
• Whether the nature of the discussion between a company and its investors needed to change, with more emphasis on a dialogue which built and encouraged a long-term relationship with, and commitment to, the company;
• what improvements can be made to the process of holding engagement meetings;
• whether companies and institutional investors should seek feedback on the quality of meetings, and how that might be most effectively done.
Respondents are also asked to comment on a list of practical measures designed to make meetings more productive.”
The Steering Group intends to issue guidance in March 2013.