Terence Corcoran launched a scathing attack against recent regulatory announcements by the Office of Superintendent of Financial Institutions (OSFI) and the Ontario Securities Commission (OSC) on assessing and interviewing directors, and strengthening gender diversity, respectively. OSFI announced, in a draft …
Recent Posts
- The Corporate Governance Game Changer That Needs to Come To Canada
- A rebuttal to Terence Corcoran’s “OSFI and the bureaucratization of corporate governance”
- Richard Leblanc: Ten reasons that pay governance is broken
- Richard Leblanc: Ten Corporate Governance Trends for 2014
- Gender diversity on boards: My discussion notes
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Governance of Financial Institutions
J.P. Morgan post-game analysis
I was interviewed by BNN where I said that what proponents for the split of CEO and Chair at JP Morgan had going against them this week was that the stock was up 50% and that the split would occur …
Banking Directors Need to be at the Top of Their Game
There’s an old maxim that corporations don’t fail, boards do. And when banks fail, the reason is poor management, which is the fault of a poor board. Take the case of Lehman Brothers, the financial services firm that collapsed in …
New financial services governance guidelines for Canada: Analysis & summary
The proposed OSFI corporate governance guidelines have been criticized for blurring the line between the board and management and for adopting a ‘one sized fits all’ approach. This is hardly surprising, and is the criticism to many governance regulations over …
OSFI moves banking governance forward in Canada
Canada’s federal bank regulator came out this week with proposed changes to its governance guidelines, moving Canada forward in important ways. Disclosure: I advised OSFI on how the current guideline might be improved. See the new draft guideline here. Some …
Should Barclays’ Former CEO receive £17M in Compensation After the Libor Rate-Rigging Scandal?
Compensation drives behavior. As reported in The Telegraph, the Barclays’ board of directors intends to “ask” former CEO Bob Diamond to “cut” part of his £17M pay package in the aftermath of Diamond’s role in artificially suppressing the rate at …
UBS’s $2B fraud: Teachable moments for risk management, corporate governance & banking regulation
After the 2008 financial crisis, I wrote to Professor John Hull, a derivatives expert at University of Toronto’s Rotman School, and asked whether the boards of investment banks should have directors with derivatives expertise on them. His response was “There …