Welcome to the latest edition of Cabinet News and Views, as we get ready to turn the calendar to December and enter the home stretch of 2023.
We do so with some greater clarity on the state of the banking industry and of corporate governance issues. I offer a top-line summary of the FDIC’s quarterly banking profile for the third quarter of 2023 which, as Chairman Martin Gruenberg notes, reflects continued resilience in the industry.
This week’s issue also offers key insights into UK and EU regulatory reports. My colleague, Jack Andrew Kelly, provides an update on the 2024 proxy voting guidelines for UK-listed companies, recently published by Glass Lewis. The guidelines contain equal measures of key updates and existing policy clarifications. My colleague, Alix Prentice, details the UK Financial Conduct Authority’s final report on the implementation of the Investment Firms Prudential Regime, which will impact over 3,500 investment firms. Finally, in a nod to the classic Shakespearean question of what’s in a name, my colleague, Duncan Grieve, discusses the findings of an EU report indicating that the proportion of Europe investment funds using ESG-related terms in their fund names has grown by 400% over the past decade.
We’re always here for comments and questions. Just drop me a note here.
Daniel Meade
Partner and Editor, Cabinet News and Views