– The European Commission has announced that it will not be imposing mandatory quotas for women on boards after objections raised by a number of member states including the UK. The Investment Management Association (IMA) and the 30% Club both welcomed the announcement.
– A report by the Pensions Institute has uncovered serious flaws in governance at London’s 34 local government pension schemes. It found evidence that suggested too few challenged the advice from their actuarial and investment consultants or underperforming asset managers.
– Governance for Owners has fully supported the demerger of Cookson’s Performance Materials division from the Cookson Group. This comes after the Cookson board concluded a separation was in “the best interests of its businesses and would deliver over time greater value for Cookson shareholders”.
– Atkin & Co has said covenant reviews should focus more on the willingness of the sponsoring employer to support the pension scheme financially, rather than just its ability to do so. It said this lack of willingness needs to be cultivated through open discussion and stronger relationships between trustees and sponsors.
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