Spain: CNMV annual reports on corporate governance and directors' remuneration

The Comisión Nacional del Mercado de Valores (CNMV) has published the latest editions of its annual reports on corporate governance and directors' remuneration: see, respectively, here (pdf) and here (pdf). A summary, in English, is available here (pdf). Of particular interest, in respect of companies' compliance with the Good Governance Code (pdf), are those recommendations not widely followed: these include the recommendations on (a) live broadcasting of the shareholder meetings and (b) the formation of separate appointments and remuneration committees for the largest companies.

UK: FRC consultation on revised UK Corporate Governance Code

The Financial Reporting Council launched its consultation today on proposed changes to the UK Corporate Governance Code. A copy of the new Code is available here (pdf) and the consultation paper is available here (pdf). The proposed changes are designed to make the Code "shorter and sharper" and reflect what the FRC calls the "changing business environment". A summary of the proposed changes is available here (pdf). Accompanying the consultation paper is an updated edition of the Guidance on Board Effectiveness document, designed to support implementation of the Code's Principles: see here (pdf).

The consultation paper also seeks specific views on the UK Stewardship Code, in order to inform a review of this Code next year.

Australia: Royal Commission announced - misconduct in the banking, superannuation and financial services industry

The Government has announced the formation of a Royal Commission to examine alleged misconduct by banks and other financial services firms. Further information is available here and the draft terms of reference are available here (pdf).

France: AMF annual report on corporate governance and executive compensation

France's financial market regulator, the Autorité des Marchés Financiers (AMF), has published its 2017 report on corporate governance and executive compensation in large listed companies. A summary, in English, is available here (pdf).

OECD publishes updated edition of Guidelines on Insurer Governance

The OECD has published an updated edition of its Guidelines on Insurer Governance: see here (pdf). An overview of some of the changes made in the new edition is available here.