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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
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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
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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