Manifest welcomes the Dept BEIS Corporate Governance Reform Green Paper which has been published today. Stakeholders are now faced with a very detailed and potentially far-reaching consultation which touches on a wide variety of topical issues. See Video https://goo.gl/Eb27h9

Manifest particularly welcomes the Government’s questions in relation to proxy advisors and other shareholder advisors who support investment managers and asset owners in their stewardship activities.  (See page 25, para 1.33 and page 31 para 1.59)

Commenting on the consultation, Sarah Wilson, CEO of Manifest said: “For any corporate governance reforms to be effective, it is essential that stakeholders have complete confidence in all aspects of the shareholder voting value chain. It is particularly important that we address issues such as transparency and fiduciary duty in the context of voting decisions. We also believe that it is extremely important to understand the boundaries of analysts and advisors and the proper role of asset owners in the voting process. Finally, we note the government’s concern about the relatively small size and perceived power of the shareholder advisory industry. We look forward to working with Dept BEIS and the Financial Reporting Council in developing appropriate policy responses."

For further information please contact:

Sarah Wilson | CEO | Manifest | Telephone: +44 (0)1376 503550

Email: info@manifest.co.uk