A certified "public interest" nonprofit
(Just look at all the things our friends in the US have to go through simply in order to be able to get their shareholder proposals to nominate directors in the Proxy materials.To Japan's credit, it already provides clear access to the proxy for anyone holding the lesser of 1% of total shares or 300 units – a low hurdle. )
Introduction:
Excerpts from article in Audit and Risk –
The UK’s corporate reporting regulator has set out a number of considerations that companies should bear in mind when disclosing why they do not comply with parts of the Corporate Governance Code.
Morrison Foerster released thereport, The Expansive Reach of the FCPA Extends to Japan Again: A Second Japanese Company Resolves FCPA Charges Related to a Nigerian Bribery Scandal
Introduction
Below are some recent requests that arose in the Company Law Public Comment process, highlighting the need for board/director training in Japan.
…..Unfortunately the voting policies of the proxy advisory firms are usually derived from unsupported notions of what constitutes “good governance” and are often applied in ways that do not account for the specific circumstances at many companies. Accordingly, this approach often fails to advance the real interests of long-term investors…..
By Paul T. Friedman and Ruti Smithline (Morrison Foerster update)
Regulators in the United States are writing rules to implement the Dodd-Frank legislation, including rules that will determine how broadly the law will apply to activity outside the United States. Japanese and other foreign financial institutions should take advantage of this opportunity to influence the regulations, because the consequences will be very important to them, and change will be much easier to accomplish now than it will be in the future.
Skadden's very useful compendium of insights and developments in 2011-2012, many of whichboards would be wise to bebe aware of.
http://bdti.mastertree.jp/f/2pvl4xt1
Their own introduction:
The TSE has kindly prepared a translation of the interim proposal by the MOJ with respect to amendment of the Company Law of Japan, which is now up for public comment until the end of January.As readers probably know, the incumbentDPJ party initially started this third amendment process in 10 years with the goal of improviing corporate governance.
Translation: http://bit.ly/xbXMkh
Instructions for Public Comment: http://bit.ly/yFGtih
ＡＢＳＴＲＡＣＴ： This paper explores corporate politics, governance and value in the S&P 500 before and afterCitizens United.