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IVIS In The News
View Older News Stories
29 June 2010
- The FT - Unmanageable situation
25 June 2010
- The FT - Bid to improve bond issuance
21 May 2010
- The FT- Red top terror for Lord Bountifuls
18 May 2010
- The Independent - Too high rights issue fees face investor investigation
29 June 2010
- The FT - Unmanageable situation
Lombard column comparing England manager Fabio Capello's over-generous contract with that of a new chief executive hired with great fanfare and hailed as a saviour, only for failure to follow. It's noted that the Association of British Insurers and National Association of Pension Funds' updated statement of best practice on contracts and severance suggests companies institute reasonable (i.e. short) notice periods, align bosses' interests with those of shareholders, restrict pay-outs to basic salary if poor performance leads to termination, and fully disclose and justify any severance payments.
Read this article online at
The FT.
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25 June 2010
- The FT - Bid to improve bond issuance
Letter on effective covenants, which allows a company to raise money at a lower interest rate because investors are willing to pay for the added protection. Proposals from the Association of British Insurers and others to recommend "model" covenants is an effort to standardise the legal jargon in bond prospectuses so that investors can have confidence that they will be effective and not subject to a multitude of exceptions and get-out clauses.
Read this article online at
The FT.
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21 May 2010
- The FT - Red top terror for Lord Bountifuls
Jonathan Guthrie says if you chair an over-generous remuneration committee and you are of a nervous disposition, you had better not read this article. "The terrifying truth is that a new UK Corporate Governance Code could help the sans culottes of the investment community to drag you from your gilded coach and bundle you into the tumbril that would convey you to Madame La Guillotine. The last thing that you would hear, as the vengeful blade scythed down, would be the gleeful laughter of Peter Montagnon, former head of investment affairs at the Association of British Insurers and the Robespierre de nos jours."
Read this article online at
The FT.
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18 May 2010
- The Independent - Too high rights issue fees face investor investigation
Today Britain's investment industry will launch an investigation into the cost of rights issues amid a mounting perception that investment banks are charging far more than they should for their work. The Institutional Shareholders Committee (ISC) has agreed to establish a new body, the Institutional Investor Council, to conduct the probe and "build a single voice for the institutional investor community and strengthen its profile". The ISC is made up of all the main UK shareholder groups including the Association of British Insurers, the Investment Management Association, the Association of Investment Companies and the National Association of Pension Funds.
Read this article online at
The Independent.
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