UK regulator adopts rules to boost stewardship transparency

first_img‘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.center_img 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.last_img read more

Syracuse hangs around with No. 10 Colgate but loses 7th-straight game, 5-2

first_imgAt the center of the blue line, Allie Munroe shielded the puck from a converging defender, spun and backhanded a pass across to Allie Olnowich. Still recovering from an unanswered three-goal barrage from Colgate in the first period, Syracuse trailed 3-1 early in the third. Olnowich fielded Munroe’s pass and wristed a shot on net, which bounced around and found freshman Lauren Bellefontaine’s stick. Bellefontaine’s goal put Syracuse within striking distance, a rare feat for Syracuse during its seven-game losing streak.Heading into Thursday, the Orange scored two goals in their previous four games. Syracuse (4-13-1, 4-3 College Hockey America) opened its matchup against No. 10 Colgate (10-5-2, 5-2-1 ECAC) on a month-long winless streak spanning back to Nov. 4. But in its 5-2 loss, SU played within one-score late in the game behind line adjustments that sparked its stagnant offense.“We’re making some strides,” Flanagan said. “…You’re never happy when you lose, but it’s better. Because we didn’t have anything the last four games. It’s an improvement.”On the ice for Bellefontaine’s third period goal were Munroe, Olnowich, Victoria Klimek and Kelli Rowswell, a notable shakeup from the traditional Bellefontaine, Abby Moloughney and Anonda Hoppner line.AdvertisementThis is placeholder text“I think coach is trying to see what works and what doesn’t work,” defenseman Shelby Calof said. “Eventually, we’re probably going to get some lines that stick and stay the same.”On Thursday, Syracuse’s offense struck first for the first time since Nov. 4. Four minutes into the game, Moloughney won a faceoff deep in Colgate’s zone. The puck squirted out to the blue line, where Calof lined up a wrist shot. Julia Vandyk, Colgate’s goalie was getting screened by players from both teams. By the time Vandyk found the puck, she was taking Calof’s first career goal out of the net.“I kind of got the monkey off my back a little bit,” Calof said. “I’ve been really waiting to get that first goal, so it definitely feels nice to get that.”Calof noted that the goal probably earned her more playing time than usual for the rest of the game. She and Olnowich, whose minutes have increased since Dakota Derrer’s season-ending injury, were both involved in goals. Olnowich and Calof typically play either on the second or third line defense.SU’s lead, the first its had since Nov. 16 against RIT, would last for one minute and 15 seconds. The Orange surrendered three consecutive goals in 15 minutes to end the first period. One came off a defensive breakdown in which two players committed to the point. Forward Nemo Neubauerova later scored twice in a minute later in the period, leaving head coach Paul Flanagan in disbelief.“That first period was as bad as I’ve seen one of my teams play since I’ve been here,” Flanagan said, citing mental mistakes and defensive breakdowns.Even with the poor first period showing, Syracuse rebounded and accumulated more shots on Vandyk. Two minutes into the second period, Calof juked through the attacking zone and wristed a shot on net. Brooke Avery found the rebound, slid the puck underneath Vandyk and celebrated by raising her stick in the air. However, the referees made no signal. After a review, the play was dead before Avery would’ve scored.“I think we got robbed, to be honest with you,” Flanagan said.When SU opened the third period with a Bellefontaine goal, its comeback hopes were revived. But Colgate had an answer. Less than two minutes later, Colgate forward Jessie Eldridge scored her second goal of the game to extend Colgate’s lead to 4-2. An empty-netter would punctuate the Syracuse loss.Prior to Thursday’s loss, Syracuse had been outscored 38-9 by ranked opponents, including a 15-2 two-game stretch last week. It felt much more comfortable against Colgate than versus the other ranked teams, Olnowich and goalie Maddi Welch said. But against Colgate, Syracuse recorded 22 shots to the Raiders’ 29, a reasonable disparity.“I think we’re trying to get out of a funk, and right now, we’re stressing the little things,” Olnowich said. “Today was a huge step up from this past weekend at Wisconsin.” Published on December 6, 2018 at 11:56 pm Contact Danny: [email protected] | @DannyEmerman Commentscenter_img Facebook Twitter Google+last_img read more

Lakers’ D’Angelo Russell to have locker next to Kobe Bryant

first_imgBefore they play together in an NBA game, Lakers rookie point guard D’Angelo Russell found a practical solution that will accelerate any adjustment period with Kobe Bryant.Russell requested to have his locker next to the Lakers’ star. “I don’t know how much longer he’s going to be around,” said Russell, who will first practice with Bryant on Tuesday in Honolulu. “So to have the opportunity to pick his brain a little bit every day, I don’t have to make it weird by walking to his locker. I’ll just look to my right and there he is.”On Monday, Bryant asked Russell if he felt nervous amid the expectations as the Lakers’ No. 2 draft pick. “I said, ‘A little bit. I don’t know what’s coming my way,’” Russell recalled. “He said, ‘This is the same thing you’ve been preparing for your whole life.’ That gave me a boost.” • RELATED: Kobe Bryant not sure what to expect from himself, LakersRussell could share the backcourt with Jordan Clarkson, while Bryant slides to small forward. But Lakers coach Byron Scott said he remains undecided.“He has a good head on his shoulders,” Bryant said of Russell. “My responsibility is going to help him just not to lose sight of what’s most important, which is the game.”Full workloadAfter playing limited minutes in summer league to protect his surgically repaired right leg and right foot, Lakers forward Julius Randle will not face any restrictions entering training camp.“I feel amazing,” Randle said. “I feel 100 times better than I did last year.”• HEISLER: Media Day optimism as good as it gets for LakersScott anticipated Randle will face some adjustments with an added workload after playing only 14 minutes last year in his rookie season.“I don’t think he’ll get off to a shaky, shaky start,” Scott said. “But he’ll still have some rust he’s going to need to knock off.”Worthy investmentIn what Bryant called “an extremely smart move,” the Lakers hired Hall-of-Fame forward James Worthy to work with Scott’s coaching staff. Though he will still retain his role as an analyst for Time Warner Cable SportsNet, Worthy will work with the team’s frontcourt players beginning in Honolulu.“We’ll let James come in and kind of teach those guys some of the things he was able to accomplish,” said Scott, who played with Worthy during the “Showtime” era.“We’re trying to take advantage of every situation that we can to make sure we give our players a chance to get better a lot sooner.”• WHICKER: Kobe and Tiger, together until the endWorthy already mentored Randle last season with on-court workouts before his injury.“I learned a lot from him last year,” Randle said. “It was huge for me. It’s going to be great to pick his brain again.”Painful goodbyeClarkson sounded bummed former Lakers guard Steve Nash recently accepted a consulting gig with the Golden State Warriors.“I’m happy for him,” said Clarkson, whom Nash mentored occasionally last season. “I just wish he could be around more.”Etc.The Lakers hired Tracy Murray as a shooting consultant during training camp.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Derrick Hall satisfied with Dbacks buying and se

first_img Derrick Hall satisfied with D-backs’ buying and selling On Thursday, offensive coordinator Harold Goodwin pointed to the team’s ability to run the football as a means to quiet the crowd.In the Cardinals’ three wins at CenturyLink Field since 2013, they’ve averaged 116.7 rushing yards per game, hitting the century mark twice. By comparison, they gained only 64 yards on the ground in a 2014 loss.Another important factor is protecting the football.“That’s something that you can’t do against that defense,” wide receiver Larry Fitzgerald said. “With the way our defense has been playing, we just got to get points; field goals, touchdowns, whatever we can muster we got to be able to do that.”Still, it always comes back to the noise.Since 2005, no stadium has produced more opponent false start penalties (163) than CenturyLink Field.“I remember going up there a few years ago and being like, ‘I want to try and yell as loud as I can.’ I couldn’t even hear myself in the huddle, let alone try and break the huddle and get out there. So, we’re prepared for that. We’re fully prepared for an onslaught of noise for the entire game,” quarterback Drew Stanton said.“We’ll try and mix in noise the next couple of days (at practice) to really hone in on those things, those specific things that we’re looking for and the looks, and just go out there and try and win one-on-one matchups.” Former Cardinals kicker Phil Dawson retires Top Stories TEMPE, Ariz. – In real estate, the three keys are location, location and location.In the NFL, to win on the road, the three keys are communication, communication and communication. And there’s been no harder place to communicate than Seattle’s CenturyLink Field, where the Arizona Cardinals will play on Sunday to close out 2017.“It’s the loudest in the NFL, there’s no question,” center A.Q. Shipley said. “There’s a lot of times you can’t hear the guy next to you so we got to do a lot of hand signals and what-not just to kind of communicate. It always makes it tough, but I think we always kind of do a good job of keeping the gameplan simple when we go up there.” CenturyLink Field is shown in this general view, Sunday, Oct. 1, 2017, during an NFL football game between the Seattle Seahawks and the Indianapolis Colts in Seattle. (AP Photo/Stephen Brashear) 1 Comments   Share   center_img Team awardsThe Arizona chapter of the Pro Football Writers Association presented its annual team awards following practice on Thursday.Linebacker Chandler Jones won the Lloyd Herberg MVP award, while defensive lineman Frostee Rucker was honored with the Steve Schoenfeld Good Guy award; the latter of which goes to a player who is always readily available to the media.The awards are named after two former Cardinals and NFL beat writers for the Arizona Republic.Aiming for sack recordFor Jones the goal each season is the same: Do better than last season.Mission accomplished in 2017.Jones’ 15 sacks, which lead the NFL, are four more than last season and just two sacks shy of setting a new franchise single-season record.“That would be a great for our team and for me as an individual,” he said.Of course, should Jones reach that mark — and even if he doesn’t, honestly — the bar has been set fairly high for 2018.“Exactly because I know next year around training camp you guys are going to be asking me, ‘What’s your goal?’ I’m going to say, ‘Better than last year.’ (And) I’ll be like, I don’t know,” he said, pretending to mumble those final words under his breath, eliciting laughter from reporters. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo “No, I’m kidding.” Defending Russell WilsonComing off its best defensive effort of the season, the Cardinals face perhaps their toughest challenge to date this week: Seattle quarterback Russell Wilson.“We’ve played him enough times to know what he’s capable of doing, how special he is,” defensive coordinator James Bettcher said.Now, the Cardinals have done a good job of pressuring Wilson—they sacked him five times in their Week 10 matchup earlier this season—it’s keeping him contained in the pocket where they, and others, have struggled.Case in point: Wilson’s 54-yard pass play to Doug Baldwin in the first meeting in which Wilson escaped no less than three defenders who had forced him deep into his own backfield. The completion led to a touchdown in a 22-16 Seahawks win.“Russell makes it very, very difficult for defenses to prepare for him because it’s tough to prepare for those second-chance plays because you never know what the guy is going to do,” cornerback Patrick Peterson said.“You rarely see them beat you on the initial play. It’s the second play, the eight-to-15 second plays that get teams. And that’s tough for anybody to do, so for us we just have to make sure that we’re extra cautious when Russell starts to scramble that we’re plastering our coverages the best way we can.” Grace expects Greinke trade to have emotional impactlast_img read more

Researchers from UC Berkeley MIT Stanford Unive

first_imgResearchers from UC Berkeley, MIT, Stanford, University of Washington, Cornell, and Google have come together to launch Oasis Labs and build a high-performance cloud computing platform on blockchain.Oasis Labs will be led by Dawn Song, a MacArthur fellow and professor of computer science at UC Berkeley. Together, the researchers will work to bring smart contracts at scale and blockchain to the real world.According to the team, the platform will enable innovations and applications that could not previously be built. The Oasis’ platform will be designed to give users more control over their data with privacy-preserving smart contracts that provide privacy protection without having to rely on a central party, the team explained. The architecture also aims to provide scalability and integrity without having to rely on other hardware or a central party.The team says the platform’s technology was inspired by their research experience and industry collaboration, such as recent work on an open source differential privacy project in collaboration with Uber, an open source keystone project to develop open source hardware in collaboration with MIT and UC Berkeley, and a research paper on Ekidan, which is a platform for smart contract execution.“As a team with deep roots in academia and extensive experience in entrepreneurship and bringing cutting-edge research technology to practice, we are thrilled to embark on a journey together with our community to bring to the world a new computing paradigm,” the Oasis Team wrote in a post.last_img read more