BPP Oversight Committee Membership Applications Now Open
Applications are invited to join the new BPPG Principles Oversight Committee
The Best Practice Principles Group (“BPPG”) was formed in February 2013 to promote greater understanding of the corporate governance research and support services provided to professional investors and other capital markets participants. The updated 2019 Best Practice Principles for Shareholder Voting Research & Analysis (“BPP”) foresee the installment of an oversight body to monitor and oversee the implementation of the principles. In January 2020, the BPPG announced the appointment of Stephen Davis as independent chair of the Oversight Committee. The BPPG is now prepared to review applications for the 11 remaining Oversight Committee member positions with input from the newly appointed chair.
The principles were subject to a thorough independent review in 2018 and 2019, following a public consultation in 2017. The introduction of new governance arrangements was a key recommendation by both ESMA (the European Securities and Market Authority) as well as respondents to the 2017 public consultation. The new governance structure defined in the updated BPP includes a new BPP Oversight Committee, updated annual reporting arrangements, and new annual monitoring arrangements.
The newly created Oversight Committee is the governing body providing (i) an annual independent review of the monitoring of the Best Practice Principles and (ii) an annual independent review of the public reporting of each BPP Signatory. The BPP Oversight Committee’s governance aims to provide confidence in the Principles that underpin the services provided by BPP Signatories. The Oversight Committee will also provide guidance and advice to the BPPG with respect to the operation and development of the Principles.
The Oversight Committee will comprise members representing:
- 6 institutional investor/representative bodies
- 3 listed companies/representative bodies
- 2 independent/academic perspectives
The BPPG’s intention is to appoint Oversight Committee members with diverse backgrounds. The representatives of investors should reflect different investment styles and geographic regions.
In accepting the mandate, Oversight Committee members recognise that:
- Shareholder voting research services play an important role in supporting investors’ exercise of their stewardship rights and responsibilities
- The primary responsibility of shareholder voting research service providers is to their investor clients;
- The primary purpose of the Principles and the BPPG is to uphold and protect the responsibilities of BPP Signatories to their investor clients.
Further information on the role of the Best Practice Principles Group and its Oversight Committee can be found here. The Report of the Independent Review Chair of the 2019 Best Practice Principles for Providers of Shareholder Voting Research & Analysis can be found here and the 2019 Best Practice Principles can be found here.
Target Start Date: May 2020
Term of Appointment: 1-year or 2-year term
Time Commitment: Minimum of 1 meeting per quarter with additional time commitment to review year-end reporting in line with annual cycle
- Demonstrate a strong commitment to the BPPG, its strategic objectives and intent
- Demonstrate tact and diplomacy, with the ability to listen and engage effectively
Experience and Skills
- Experience with or knowledge of corporate governance or ESG research and support services provided to professional investors and other capital markets participants
Please submit your application through: Committee@bppgrp.info. Please provide a short CV or bio with a brief explanation of why you are interested in the position.
Closing Date for applications is 6 March 2020.