The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Panellists Note the Lack of a Global Initiative for Proxy Voting Standardisation

There may be a number of national initiatives focused on standardising proxy voting practices in individual countries, but there are no global efforts to harmonise these practices across borders, agreed panellists at this month’s CorpActions 2011 conference in London. Justin Chapman, global head of process management at Northern Trust, suggested that some engagement at an international level, building on the foundations of the work of national groups might be a starting point.

Panellists agreed that a global working group should be established to discuss such an initiative focused on the standardisation of the proxy voting space. However, it was unclear who would lead the charge towards establishing such a body.

John Kernan, senior expert at international central securities depository (ICSD) Clearstream, contended that it is vendors’ duty to be a part of any such solution. He suggested that these market participants would be more likely to have the appetite for investment in this endeavour.

On a national level, Kernan also pointed to specific markets such as France that could be ripe for efforts towards standardising the voting confirmation process in partnership with the vendor community. “If you break the problems down into their component parts they should be much easier to tackle,” he suggested. “Change will always be incremental.”

In terms of investment, however, issuers will not carry the costs of standardisation and will instead pass it onto the registrar community, said Jai Baker, senior relationship manager at Capita Registrars. Ergo any standards efforts that are kicked off will need to be justified and have solid business cases in place.

Related content

WEBINAR

Upcoming Webinar: A new way of collaborating with data

Date: 15 April 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil...

BLOG

DSB Opens First Consultation on UPI Fee Principles

The Derivatives Service Bureau (DSB) opened a first round of industry consultation on fee principles for the Unique Product Identifier (UPI) today. The consultation ends on 5 March 2021 and is the first of two consultations before a final report is published in September 2021. The UPI will come into play in 2022 and will...

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape

“The Global LEI will be a marathon, not a sprint” is a phrase heard more than once during our series of Hot Topic webinars that’s charted the emergence of a standard identifier for entity data. Doubtless, it will be heard again. But if we’re not exactly sprinting, we are moving pretty swiftly. Every time I...