International Corporate Governance Network meets in Toronto for major talks on market reform, regulation and challenges facing the governance of public companies
- Media briefing: June 7, 10:15 a.m.
TORONTO, June 7 /CNW/ - As the G20 prepares to strengthen regulation of the world's financial system, the International Corporate Governance Network (ICGN) will hold a media briefing at its annual conference in Toronto to discuss the crucial role that engaged and informed institutional shareholders play, alongside regulation, in the proper functioning of capital markets.
The ICGN believes policymakers have made an impressive response to the financial crisis but is concerned that new regulation may have consequences for long-term corporate performance that may not serve the long-term interests of institutional investors or the millions of people who depend on them for their pensions and future financial security. "The ICGN believes policymakers must ensure reforms designed to increase market stability take into account shareholder rights and responsibilities," said Carl Rosen, Executive Director, ICGN.
The ICGN's members include institutional shareholders from almost all G20 countries, giving the organization a unique perspective on regulation of the world's financial system. "Institutional investors can be an effective resource for better regulation of the financial system and we wish to have a constructive dialogue with G20 leaders on current policy issues," added Mr. Rosen.
The European Commission has begun referring to the ICGN's Statement of Principles on Institutional Shareholder Responsibilities (2007) - which is the basis for the U.K. Stewardship Code - as a potential shareholder code for Europe. The ICGN will discuss the importance of these principles in light of proposed regulation for the global financial system and other recent governance reforms around proxy access and executive compensation.
Carl Rosen, Executive Director, ICGN
Christianna Wood, Chair, ICGN Board of Governors
Claude Lamoureux, ICGN 2010 Conference Co-chair
WHEN and WHERE:
June 7, 10:15 a.m. to 10:45 a.m.
New Brunswick Room, 2nd floor
Royal York Hotel
100 Front Street West, Toronto
ICGN leadership will also discuss the role of the ICGN and key topics on the conference's agenda, including:
- the new world order following the '2009 Great Recession' and 2008
- the aftermath of the latest oil disaster with a look at CSR in
action and resultant costs to society and share value;
- the impact of high-frequency trading and its possible role in
massive and unexplained "market glitches", plummeting stock market
prices and high volatility; and
- increasing international role of 'super' investors from government
controlled funds from emerging markets such as China and global
Press passes available in advance or at the main conference registration desk. Contact:
Tina Chande, ICGN Head of Events
+44 (0)20 7612 7093
ICGN quick facts:
- Global membership organization including approximately 450 leaders
in corporate governance in 45 countries
- Members are largely institutional investors which collectively
represent approximately US$10 trillion in assets under management
- Founded in 1995, its mission is to raise standard of corporate
governance worldwide and serve as a vehicle for institutional
investors to exchange information and share experiences cross-
- 2010 ICGN Annual Conference draws 60 speakers from 30 countries,
and the world's largest investors
SOURCE INTERNATIONAL CORPORATE GOVERNANCE NETWORK
For further information: For further information: Contacts: Carl Rosen, Executive Director, ICGN, by email: email@example.com, or phone: 0044 (0) 207 612 7098; or Christianna Wood, Chairman, ICGN Board of Governors, by email: firstname.lastname@example.org, or phone: (347) 601-9793