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Frontis Governance answers to the consultation on Best Practice Principles’ revision (and explains why it is not a signatory)
The Best Practice Principles for Shareholder Voting Research Providers were launched in March 2014, following a public consultation and in response to an initiative of the European Securities & Market’s Authority (ESMA). The Principles are applied on a comply-or-explain basis, and may be concisely defined as the proxy advisors’ code of conduct (the longer name […]
Posted in: Market rules, News
ECGS incorporates Spanish proxy advisor to the partnership, CORPORANCE
May 14, 2017
The international network of local independent proxy advisors, Expert Corporate Governance Service (ECGS) has complemented its footprint in Europe by entering into a partnership agreement with Spain´s CORPORANCE Asesores de Voto (CORPORANCE), the first local proxy advisor and provider of advisory services to Spanish institutional investors. It will also cover the Portuguese market. With this agreement […]
Posted in: News
Frontis Governance published the third study on Directors’ remuneration in Italy
February 6, 2015
The third Frontis Governance’s report aims at identifying factors influencing the executive remuneration at Italian listed companies, as well as at verifying the eventual alignment with the corporate strategies and the shareholders’ interests in the long term. The analysis covers 100 Italian listed companies’ remuneration policies approved in 2014, as well as all the remuneration […]
Posted in: Remuneration
The Italian Government forces biggest listed cooperative banks to change their ownership into public traded corporation
January 28, 2015
Through the so-called “Investment Compact” Law Decree, approved on January 20th, the Italian Government aims at deeply reforming the biggest Italian cooperative banks, i.e. the “popular banks” (banche popolari). Pursuant to the new rules, all “popular banks” with more than 8 million Euros of total assets shall change their status from cooperative to public traded […]
Posted in: Market rules, News
Frontis Governance and ECGS commented on Consob’s consultation on multiple voting rights
December 9, 2014
Originally posted on the ECGS website Frontis Governance, the Italian partner of ECGS and first Italian proxy advisory firm, presented its comments on the new Italian legislative provisions threatening the basic principle of equality of all shareholders. Like in France, ECGS partners demonstrate their strong opposition to the introduction of multiple voting rights, as a […]
Posted in: Market rules, News
The Parliament approved (even worsening) the law on multiple voting shares: a measure to strengthen major shareholders.
September 11, 2014
Since 20 August, date of publication on the Official Gazette, the Italian law allows listed and private companies to issue multiple voting shares. Here are the main changes, as partially amended by the Parliament. Additional voting right: Italian listed companies may assign an additional voting right to each common share uninterruptedly held for at […]
Posted in: Market rules, News
The “Development Decree” allows Italian companies to issue multiple voting shares. A measure to support long-term investors or a new defence of major shareholders?
July 22, 2014
On 24th June 2014, the Italian Government approved the so-called “Development Decree”, introducing the possibility to issue multiple voting shares, waiving the principle of “one share – one vote”, so far one of the basis of the Italian market’s legislation. Pursuant to the new law, Italian companies may amend the bylaws by including the possibility […]
Posted in: Market rules
December 28, 2017
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