‘Important baseline’ The new rules represented “an important baseline for stewardship actions”, according to the FCA. Deciding whether and how to build on this would need to be “carefully” considered, it added.At present the hope is that greater transparency will “encourage the emergence of a market where firms in part compete on their effective stewardship”. The new rules come into effect on 10 June, which is the deadline for EU member states to implement SRD II, itself passed in 2017. However, given the short time period between publication of the rules and their becoming effective, the FCA indicated that asset managers could explain what they were doing to develop an engagement policy if they did not have one to publish. UK asset managers will be required to publish their policies for engagement with investee companies and annual information on how this has been implemented, or publicly explain why they are not doing so, with effect from next month.According to the Financial Conduct Authority (FCA), which announced the rules today, asset managers must also “provide information to asset owners, including on how their investment strategies contribute to the medium to long-term performance of the assets”.The regulator said the rules were “a close copy-out” of relevant requirements in the revised EU Shareholder Rights Directive (SRD II), except with regard to geographic scope.The rules will namely apply to investments in shares traded not only on markets in the European Economic Area (EEA) – which is the minimum requirement of SRD II – but also on “comparable” markets outside the EEA. The entrance to the FCA’s headquarters in Stratford, LondonProposals for the final rules unveiled today were part of a package of stewardship-related announcements made at the end of January, with the Financial Reporting Council also setting out a draft revised Stewardship Code. The FCA today said it might take time for SRD II, the revised code and related initiatives to embed.The regulator also said it recognised that firms should not be expected to exercise stewardship in an identical way, or to the same intensity, or uniformly in all markets. The rules on shareholder engagement policies apply on a comply-or-explain basis.“One aim of SRD II is to enable asset owners to understand the way in which their asset managers engage with the companies in which they invest,” the FCA said. “Different asset managers choose to explain their offerings in different ways. Asset owners can then judge whether or not that offering meets their needs.”Publication of the new rules to implement SRD II comes after the Association of Member Nominated Trustees called on the FCA to investigate a “market failure” with regard to fund managers’ voting policies. The trustee body has been pushing for asset managers to accept client-directed voting in pooled funds, in particular on the basis of its voting guidelines on environmental, social and corporate governance matters.A spokesperson for the FCA said it was considering the association’s letter and planned to meet with it to discuss its concerns.
Leeds United star Kemar Roofe celebrates scoring a goal. But this current run is set to test fans who will now see themselves playing at all manner of times, starting with a Friday night match.Many have been frustrated by the switches, although they concede it reflects the club’s excellent supporter network and their current form under Marcelo Bielsa.Meanwhile fans at rival clubs are hoping to capitalise on their visibility as they hope the early frontrunners in the division begin to fall apart in their living rooms. 1 Leeds United face Sheffield Wednesday in the EFL Championship tonight as they start an incredible run which sees six out of their next seven games live on Sky Sports.The Elland Road side have a sizeable fanbase and since the increase in Football League matches on TV have been used to having games shown on the broadcaster. Sky Sports showing Leeds United’s next 7 out of 8 games so we can all watch them fall apart is hilarious!— 🏴 Michael Dubin (CTID)🏴 (@mikedubz87) September 27, 2018Leeds’ next seven fixtures:Sheffield Wednesday (A) (Friday, September 28 at 7:45pm) live on Sky Sports and on talkSPORTHull City (A)(Tuesday, October 2 at 7:45pm) live on Sky SportsBrentford (H) (Saturday, October 6 at 12:30pm) live on Sky SportsBlackburn Rovers (A) (Saturday, October 20 at 12:00pm)Ipswich Town (H) (Wednesday, October 24 at 7:45pm) live on Sky SportsNottingham Forest (H) (Saturday, October 27 at 5:30pm) live on Sky SportsWigan Athletic (A) (Sunday, November 4 at 1:30pm) live on Sky SportsWest Bromwich Albion (A) (Saturday, November 10 at 5:30pm) live on Sky Sports
Venezuela’s oil exports have tapered off and shifted toward India since new U.S. sanctions began January 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. Read it at Economic Times Related Items
Users will be able to create new short links through the goo.gl console until April 13, 2018. Users with existing goo.gl links will still be able to use all features of the goo.gl console for one year, ending March 30, 2019. Links that were already created with the URL Shortener will continue to be redirected to their intended location even after this date. “URL Shortener has been a great tool that we’re proud to have built. As we look towards the future, we’re excited about the possibilities of Firebase Dynamic Links, particularly when it comes to dynamic platform detection and links that survive the app installation process,” Michael Hermanto, software engineer for Firebase, wrote in a post. Microsoft Professional Program adds two new tracks The Microsoft Professional Program (MPP) will be adding two new tracks for Artificial Intelligence and Entry Level Software Development. These tracks will provide students will job-ready skills in these areas. The Artificial Intelligence track is the same program that Microsoft employees use to learn AI. It was born out of the need to has a separate AI track in addition of the Data Science track. Topics that will be covered in the course are manipulating data with Python, foundational math and statistics, principles of machine learning, deep learning neural networks, and applied AI techniques. The Entry Level Software Development track will teach students the fundamentals of problem solving and programming in any language. According to Microsoft, one of the problems with entry-level software learning courses are that they are web-focused, and this track is designed to fix that. Mozilla has announced it is bringing virtual reality and augmented reality to Firefox. The company revealed it is building Firebox Reality, a new browser that will be built from the ground up to work with VR and AR headsets. The platform will be independent and work on a number of different devices, making it the first cross-platform browser for mixed reality, Mozilla said. It will incorporate aspects from Firefox Quantum, which was released last year as a reimagined browser designed for speed. “The future of mixed reality is about delivering experiences, not about building applications. There shouldn’t be friction moving from one experience to another. Firefox was the first browser to implement WebVR – an open standard for sharing and enjoying virtual reality content through a web URL. This lays the groundwork for creating and delivering immersive experiences using a method that is as simple as opening a web page,” Sean White, vice president of technology strategy, wrote in a post. Google replaces URL Shortener with Firebase Dynamic LinksGoogle has announced it is discontinuing its URL Shortener in favor of Firebase Dynamic Links (FDL). URL Shortener was first launched in 2009 to give users a way to share links and measure online traffic. According to Google, FDLs are smart URLs, allowing users to send links that will point to any location within iOS, Android, or a web app.