mid-week medley November 14, 2012Posted by Bradley in : governance , trackback
SEC and DOJ publish a Guide to the Foreign Corrupt Practices Act, and the SEC publishes a Small Entity Compliance Guide to Conflict Minerals Disclosure. FSA consults on Implementation of the Alternative Investment Fund Managers Directive. EBA consults on prudent valuation.
The European Commission proposes legislation to increase the number of women on corporate boards (because non-binding approaches have not worked) (details here):
The Commission has proposed legislation with the aim of attaining a 40% objective of the under-represented sex in non-executive board-member positions in publicly listed companies, with the exception of small and medium enterprises. Currently, boards are dominated by one gender: 85% of non-executive board members and 91.1% of executive board members are men, while women make up 15% and 8.9% respectively. Despite an intense public debate and some voluntary initiatives at national and European level, the situation has not changed significantly in recent years: an incremental average increase of the number of women on boards of just 0.6 percentage points per year has been recorded since 2003.
Viviane Reding says it is a “historic day for gender equality.” Why a targetof 40% represents equality, I am not sure.
The EU has set up a competition for young people (8-24) to go to the Nobel Peace Prize ceremony.