UBS : another case of rogue uncontrolled trading

The $ 2.3 billion loss reported by UBS London this September on uncontrolled positions of $ 10 billion just validates the ECGS analysis.

Chief Executive of UBS, Oswald Grubel, had claimed to have put in place new risk management practices, pulled back from proprietary trading and focused on a low-risk client-driven model.

US shareholders cannot nominate Directors: the SEC renounces to the enforcement of the ?proxy access rule?


European shareholders, sometimes dissatisfied with the lack of respect of companies for the principle of sovereignty of shareholders should watch the misfortune of U.S. investors.

The ICGN Conference and the UK Vickers report

On September 12 the International Corporate Governance Network ICGN opened in PARIS its annual gathering of responsible investors.

DSW publishes its brand new Directors' Pay Survey 2011

Public and political interest in directors’ pay has significantly increased in recent years; awareness but also criticism has never been greater. DSW, Germany’s largest investor association, has been taking a close look at the topic of Directors’ Pay since 2001. Our annual survey has significantly added to the public awareness and consequent debate regarding regulation and salary limits.

ECGS answers to the EU Green Paper

Please find our answers in the PDF here.


ECGS  Dutch partner Shareholder Support had - unlike competing proxy advisers - recommended investors to vote in favour of the discharge of the TNT Directors, but against the planned demerger of TNT’s Mail and Express Businesses.

Express will operate as TNT Express NV and TNT Post's brand name will change to PostNL.

Ethos Survey on Executive Remuneration: Pay Raises in the Financial Sector


ECGS Swiss Partner Ethos Foundation published its survey of the 2010 board and executive remuneration in the 48 largest Swiss listed companies (comprising the SMI and SMIM indexes).

The amount  paid to the boards and the executive management of the Swiss listed companies included in the financial sector rose by 8%, while it remained stable in the other sectors.

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