The UK's asset management trade body, the Investment Association (IA), will no longer maintain a public log of meaningful shareholder opposition to company management at general meetings.
This change is a sign of the government being open to pro-deregulation lobbying, according to a corporate governance specialist.
The policy was a response to public disgruntlement about executive pay levels and significant minority opposition to remuneration reports and policies.
The Investment Association's decision to drop the shareholder dissent register is a notable shift in approach.
Author's summary: UK trade body drops public register of shareholder dissent.