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Regulations

How engaged is your team, really?

Oct 09, 2019

On October 9, 2019, the Harvard Business Review published an article on how a recent global study of engagement from the ADP Research Institute found that if employees consider themselves part of a team (or even better, part of more than one team), they are twice as likely to feel engaged in their work.

Knowing that engagement is tied to teams is critical for leaders looking to increase their output, since engagement is a known driver of productivity.

Leaders should look for these three signs:

  • Lack of teamwork
  • Playing the system
  • Only managing up

Review the full article on the Harvard Business Review's website.

Proposal issued for unified approach to certain tax challenges of digitalization

Oct 09, 2019

On October 9, 2019, the Organisation for Economic Co-operation (OECD) released a proposal that seeks to harmonize aspects of three initial proposals to develop a possible new approach to address the nexus and profit allocation challenges arising from digitalization.

As part of the ongoing work of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting ("Inclusive Framework"), the OECD released a public consultation document containing a Secretariat Proposal for a "Unified Approach" under Pillar One. This follows on from the program of work issued on May 31, 2019, and seeks to harmonize aspects of the three initial proposals around user participation, marketing intangibles and significant economic presence in order to develop a possible new approach. It does not, at this stage, have consensus political support from the more than 130 governments participating in the Inclusive Framework.

Review a summary on Deloitte Tax's website.

IESBA Meeting Highlights September 16-19, 2019

Oct 08, 2019

On October 8, 2019, the International Ethics Standards Board for Accountants (IESBA) released the highlights of its September 16-19, 2019 meeting.

Discussion points included:

  • Highlights & Key Developments
  • Alignment of Part 4B with ISAE 3000
  • Non-Assurance Services
  • Fees
  • Technology

Review the highlights and the podcast on the IESBA's website.

Caremark duties include duty not only to establish oversight processes but also to monitor them

Oct 07, 2019

On October 7, 2019, the D&O diary published an article on the October 1, 2019 decision in the Clovis Oncology Derivative Litigation. In the decision, the Delaware Chancery Court provided further perspective on directors’ potential liability for breaches of the duty of oversight.

Boards not only must be able to show that they have made good faith efforts to implement an oversight system, but that also that they monitor the system – particularly when a company operates in a highly regulated industry.

Review the full article on the D&O diary's website.

Reporting matters – Navigating the landscape: a path forward for sustainability reporting

Oct 04, 2019

On October 4, 2019, the World Business Council for Sustainable Development (WBCSD) released the 2019 edition of Reporting matters.

This year’s report provides insights that aim to help companies navigate new contexts through the lens of materiality, judgement and visual language. Three addendum reports explore distinct aspects of reporting.

Review the press release to access to all reports on the WBCSD's website.

Final report on EU climate benchmarks and benchmark ESG disclosures

Sep 30, 2019

On September 30, 2019, the European Commission (EC) published a final report on "EU Climate Benchmarks and Benchmarks’ ESG Disclosures" by its Technical Expert Group (TEG) on Sustainable Finance.

The report recommends a set of Environmental, Social and Governance (ESG) disclosure requirements, including the standard format to be used for the reporting.

Review the final report and supporting documents on the EC's website.

Stakeholders’ primacy: paradigm shift confirmed

Sep 30, 2019

In September 2019, Norton Rose Fulbright released a summary of Bill C-97, which stipulates that when acting in the best interests of the corporation, directors and officers may consider, but are not limited to the interests of shareholders and certain other stakeholders.

At first glance, the new provision appears consistent with the Supreme Court’s reasoning in cases on director liability, but, given a heightened climate for director accountability and recent focus on stakeholder interests in Canada and abroad, it is imperative to review the potential implications of these changes for corporate leaders.

The summary covers:

  • From shareholder’s to stakeholder’s primacy?
  • CBCA now expressly recognizes stakeholder interests
  • Differences between the CBCA and US corporate statutes
  • Recommendations

Review Bill C-97 on the Parliament of Canada's website and the summary on Norton Rose Fulbright's website.

Gender equality is within our reach

Sep 30, 2019

In September 2019, the Harvard Business Review published an article by Melinda Gates, where she discusses that even though American women did reach that 50% threshold in 2010 (and currently comprise 49.8% of the nonfarm workforce), the same old inequalities have simply followed women to new places. Women still aren’t earning as much, rising as high, or having an equal voice in decision-making.

Across all aspects of American life, it is most often men who set policy, allocate resources, lead companies, shape markets, and determine whose stories get told. Meanwhile, what gains have been made typically haven’t extended to all women. The women historically the most marginalized in this country — including women of color, poor women, and lesbian and trans women — are still the most likely to be trapped in minimum-wage jobs, the least likely to hold managerial roles, and the most likely to face sexual harassment and gender-based violence.

Review the full article on the Harvard Business Review's website.

The case for hiring older workers

Sep 26, 2019

On September 26, 2019, the Harvard Business Review published an article on how there’s a lot of talk about gender bias, racial bias, and culture bias at work, and each are important for many reasons. But perhaps one of the biggest and most problematic types of bias we face is the bias of age: we often evaluate people based on their age, and this is now becoming a major challenge in the workplace.

Review the full article on the Harvard Business Review's website.

Seven insights from geopolitical, economic experts for corporate leaders

Sep 26, 2019

On September 26, 2019, the National Association of Corporate Directors (NACD) BoardTalk published an article on how geopolitical events and international trade developments are reshaping the global economy, and companies are having to grapple with complex ripple effects.

To help corporate directors and senior executives navigate these complex challenges, NACD featured two mainstage events focused on geopolitical risk and international trade at its 2019 Global Board Leaders’ Summit.

The sessions surfaced the following insights to attendees:

  1. Cybersecurity remains top of mind
  2. Today’s era of uncertainty will have long-lasting effects
  3. Ambiguity creates room for new opportunities
  4. Emerging markets will play a critical role
  5. Democracy and capitalism are still wedded
  6. Prepare for a continuous learning journey
  7. Corporate leaders must avoid complacency

Review the article on the NACD BoardTalk's website.

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