21 July 2015
On 3 July Peter Swabey, ICSA Policy and Research Director, gave an update on some of the issues ICSA’s policy department is currently focusing on. He gave an overview of the new requirement for a register of persons with significant control and highlighted some of the aspects of which company secretaries need to be aware.
Peter also talked about ICSA’s work with partners from the investor community and companies to help the FRC’s review of the Stewardship Code. As part of this work, two surveys were carried out to look at levels of engagement between investors and companies. They found that companies view an investor’s willingness to listen to explanations, rather than rigidly applying their policy decision, as an important element of quality engagement. The results however reveal mismatches, particularly in how companies and investors define a major shareholder.
The surveys also highlighted that companies focus engagement on their largest shareholders, whereas investors look to engage with the largest investee companies in their portfolio – the two are sometimes very different. This goes some way to explain why companies struggle to engage with some of their largest shareholders and why they misunderstand the level of engagement requested by others.
Another outcome was that both companies and investors said their priority for discussion was strategy and governance, however both said that the other party always wanted to focus on remuneration – clearly, there is some misunderstanding here. One positive result was that a large majority of companies agreed that engagement with investors helped them make better decisions.
You can read more about ICSA’s work on the Stewardship Code in Peter’s article here. Visit www.slideshare.net/ICSAevents/icsa-corporate-policy-update-3-july-2015 for slides from the event.
July sees the release of A Practical Guide to Good Company Reporting from ICSA Publishing.
The author, Tony Hoskins, provides useful insight and demonstrates best practice for delivering reports and accounts. This book looks at the purpose of the legislation and regulation surrounding corporate reporting and offers guidance on the practicalities of effectively putting together a report. It covers the different types of reports, including the requirement for different sized organisations and provides step by step checklists of tasks to be carried out.
Visit www.icsa.org.uk/shop for more information or to order your copy.
The annual general meeting of the Institute of Chartered Secretaries and Administrators is being held at the Connexion@Nexus Auditorium, Level 3A, No 7 Jalan Kerinchi, Bangsar South City, 59200, Kuala Lumpur, Malaysia on Thursday 10 September 2015 at 18.30 (local time). The notice and proxy form will be sent out by email from Wednesday 22 July 2015 to all members for whom we hold a current email address, so please check your inbox and junk folder regularly.
Please complete and return your proxy form, even if you are planning to attend the annual general meeting. Forms should be received at Saffron House no later than 11.30 (BST) on Tuesday, 8 September 2015.
The Institute’s audited accounts for the year ended 31 July 2014 and a statement of income and expenditure for the year ended 31 July 2015 will be available to view at www.icsa.org.uk/events/agm from Wednesday 12 August 2015. If you prefer to receive a hard copy of the report and/or the statement please request a copy via firstname.lastname@example.org or contact Craig Willox on +44 (0) 20 7612 7006.
Taking place on 8–9 March 2016 at Excel, London, this new event is set to be ICSA’s major national conference for the next year. The new format includes more than 30 sessions taking place over two days, meaning delegates will be able to create their own learning agenda to suit the specific requirements of their industry and personal development needs.
The official conference programme will be announced shortly and you can register for this and all updates at www.icsa.org.uk/conference2016
Students should have received membership renewals emails in early July and we appreciate all the prompt responses that we have received. If for any reason you have not yet heard from us, please log into www.icsa.org.uk/MYICSA or get in touch directly using the details below.
Please look out for your benefits pack for 2015–16 at the beginning of August. It contains essential information about how to make the most of the services that we provide. It also includes exclusive vouchers and provides key dates for conferences and exams for your diary.
As always, if you have any questions or would like to let us know about a change of circumstances, please get in touch.
We look forward to supporting you across the new membership year and hope you have a lovely summer.
We are looking for someone who has the ability to take on the challenging and varied role of a company secretary. We have partnered with Proceed for an exciting work and study opportunity at ICSA.
The winner will win a trainee contract, sponsored studies towards MSc in Corporate Governance and a £21,000 annual salary. Two runners up will also receive prizes.
Visit www.icsa.org.uk/competition to find out more.
A reminder that ICSA needs Fellows to stand for election to the UKRIAT Committee. Nominations are welcome between now and 14 September 2015, with the election period running throughout November 2015. To stand for nomination you need to be a Fellow of ICSA and a member of UKRIAT, and able to allocate sufficient time to meet the expectations of the role. You will also require two sponsors to countersign your nomination form.
For more information or to register your interest please contact Cynthia Mora-Spencer, Deputy Secretary at email@example.com, by telephone on 020 7612 7002 or by writing to the Deputy Secretary, ICSA, Saffron House, 6–10 Kirby Street, London, EC1N 8TS.
We are saddened to inform you that John Hardy FCIS, a long serving Fellow of the Institute and Past President, passed away on 5 July aged 88. John served on the Institute’s Council for a great number of years and was highly valued by all his ICSA peers. After stepping down from the Council in the late 80s, John continued to support the Institute for many years as an active member and Chair of Trustees for the ICSA Pensions Scheme.