![Global rules on foreign direct investment](https://www.nortonrosefulbright.com/-/media/images/nrf/nrfweb/knowledge/publications/us_24355_legal-update--fdi-alert.jpeg?w=265&revision=a5124a65-abf9-40e4-8e96-9df39ffdb212&revision=5250068427347387904&hash=96B456347C3246E5649838DF281C5F5D)
Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Author:
Canada | Publication | January 4, 2024
Institutional Shareholder Services (ISS) has published its proxy voting policy updates for the 2024 proxy season (the ISS Updates). The ISS Updates follow the release of Glass Lewis’s 2024 benchmark policy guidelines in November 2023 (the GL Updates). The ISS Updates apply to meetings held on or after February 1, 2024.
The updates mainly focus on voting recommendations that address the goal of greater board diversity. Changes have also been made to voting recommendations for executive compensation plan proposals. The changes are as follows:
The new guideline reflects a similar policy in place in the US since 2021. The formalized guidance is more lenient than originally proposed as it now provides issuers that have no racially or ethnically diverse directors the ability to not be off-side the recommendation if they publicly announce their intention to diversify. The ISS Updates follow the 2020 amendments to the Canada Business Corporations Act that broadened disclosure of board diversity beyond gender. The Canadian securities regulators are currently considering enhanced disclosure of board diversity.
The GL Updates are broader than the ISS Updates and introduce key amendments, including board oversight of climate-related disclosure, human capital management and cyber risk. In addition, the GL Updates address board composition and governance issues, including conflicts of interest of interlocking directors and increased expectations of audit committee members. A full description of these changes can be found in our earlier update Glass Lewis publishes 2024 proxy season updates.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
Taking place across three webinars, our team of experienced lawyers and consultants, along with industry professionals and regulators, explore the latest ESG developments and trends within financial services regulation. This series takes a cross jurisdictional perspective, covering ESG financial services regulation and trends from across the globe.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023