IR Leader
January 08, 2013

Top Stories

Shareholder Activist as Corporate Superhero

When Bill Ackman of Pershing Square came knocking at the door of Canadian Pacific Railway with a request for two board seats, it struck many as a move doomed to failure.

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2013 Executive Compensation Principles

The 2013 Executive Compensation Principles provides the latest CCGG thoughts on designing an effective executive compensation program.

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At the Crossroads: Choosing a New Path, Maybe Auditors Need to Take It

While investors seek to regain trust in financial reporting, some say that the auditing profession is at a crossroads and that now is the time to take stock of what audit can do to enhance its value in the public interest.

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Industry Turf War Plays Out in D.C.

At a hearing of the Senate Banking Committee in Washington yesterday, exchange officials cast aspersions on alternative trading systems, or dark pools, while ATS executives criticized the regulatory structure supporting exchanges.

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Officials Call for Order Type Talks

Representatives from exchanges, brokerages, and money management firms on Nov. 9 called for a review of the hundreds of exchange order types in usage. Any such examination could mushroom into a broader review of market structure, they said.

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The Case for a Shareholder Value Focus

It seems that every few years someone, often from academia, passionately asserts that some form of stakeholder value should be the preferable corporate focus over shareholder value.

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Exchanges Release Paper on Emerging Market Issuers

The TSX and TSX-V issued a joint consultation paper earlier this week intended to identify the potential risks associated with listing emerging market issuers and provide preliminary guidance to issuers with respect to applicable listing considerations.

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Commentary: Canada Is a Port of Call for North American Algos

Once an algorithm has reached its profitability potential in U.S. equities markets, its owner can create another successful algorithm.

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Notice-and-Access Comes to Canada for 2013 Proxy Season

The Canadian Securities Administrators (CSA) have approved the final changes to rules permitting the use of 'notice-and-access' for proxy solicitation. The changes will become effective on February 11, 2013, for meetings held on or after March 1, 2013.

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2013 Electronic Trading Outlook: More Pressure on Tap for the Sell Side

Next year, the buy side is also likely to be impacted by intense pressure on management fees, an issue has been developing for some time but in 2012 seemed to reach a tipping point.

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Debate Grows Over Dark Pools and Price Discovery

Recent research papers have disagreed over the effect of dark pools on price discovery.

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Changes to Shareholder Communication Rules Will Permit Electronic Access, Enhance Disclosure, and Simpllify Certain Proxy Appointments

Canadian Securities Administrators ("CSA") recently announced that, effective February 11, 2013, the rules governing communication between reporting issuers (other than investment funds) and their securityholders will change.

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Notice-and-Access Adopted in Canada

Canadian securities regulators have adopted new rules permitting annual financial statements, management's discussion and analysis and meeting circulars to be posted on public companies' websites instead of being mailed to shareholders.

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Pitfalls of Social Media: Facebook Post Could Lead to SEC Enforcement Action

Social media postings by officers of public companies can form the basis of Securities and Exchange Commission (SEC) enforcement actions.

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SEC Stands Pat as Global Accounting Forges Ahead

International financial reporting standards could become more popular, forcing the SEC to listen to foreign standards-setters.

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How to Damage Your Share Price

Research from a leading law firm reveals four kinds of company crises that can make a share price fall immediately or in the long term.

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Mercer to Research Ways in Which Corporations Can Build Long-Term Shareholder Loyalty

Mercer, Stikeman Elliott LLP and the Generation Foundation (the philanthropic arm of Generation Investment Management) announced today the launch of a collaborative global research project exploring the concept of loyalty rewards (i.e. loyalty dividends, warrants or additional voting rights) and related instruments designed to reward corporate shareholders for retaining their shares for a specified number of months or years. The project responds to concerns that 'short-termism' in the context of economic and corporate decision-making may be damaging the way that companies are managed.

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