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AMF offers guidance to help companies disclose exposure to modern slavery

first_imgAccording to the notice, the International Labour Organization estimated there were about 25 million victims of forced labour in the world in 2016, and this generated an estimated US$150 billion in profits.“Modern slavery affects tens of millions of people around the world, and Canadian issuers may be directly or indirectly exposed to this serious problem,” says Louis Morisset, president and CEO of the AMF, in a statement.“The AMF recognizes that modern slavery, in all its forms, is a growing concern for some market participants. That is why we are insisting on the importance for issuers of disclosing the required information as part of their continuous disclosure obligations in order to, in particular, help investors make investment decisions and exercise their voting rights,” he adds.According to the notice, existing securities regulations may require disclosure of certain information regarding modern slavery as a material risk factor.“Issuers should judge whether the nature of their business requires them to discuss the risks related to modern slavery in their continuous disclosure documents. For example, an issuer could face the following risks: litigation risks, regulatory risks, reputational risks and operational risks. Issuers should also assess the materiality of the risks affecting their supply chain, where applicable,” the notice states.Additionally, the existing rules impose disclosure obligations involving companies’ social policies; and, whether or not the board of directors has adopted a code of conduct and ethics.“When carrying out their oversight duties, boards of directors, audit committees and certifying officers should examine, among other things, management’s assessment of the materiality of issues related to modern slavery and satisfy themselves that the disclosure provided in the documents filed under securities regulation is consistent with that assessment,” the notice states.The AMF carried out a review of the current disclosure practices of 20 large issuers in a cross section of industries, according the notice. The review found that 15% on companies identified social responsibility issues as a material reputational risk and 15% referenced social policies dealing with respect for human rights, or the issue of modern slavery. Although 40% of the companies reviewed have adopted a code of conduct and ethics, only 10% discussed the issue of modern slavery specifically.The guidance is intended for all issuers, the notice states, but may be most relevant to industries that may be more likely to have exposure, such as the construction, manufacturing, entertainment and agriculture sectors.It is being issued in response to both international regulatory developments, such as recent U.S. and European legislation in this area; and, growing investor interest in social issues, including labour practices. James Langton Related news The Autorité des marchés financiers (AMF) provides guidance to help public companies disclose their exposure to forced labour and other forms of modern slavery, in a notice published Tuesday.The Notice relating to modern slavery disclosure requirements sets out how the Quebec regulator views companies’ disclosure obligations when it comes to various forms of abusive labour practices, such as child labour, forced labour, debt bondage and human trafficking. Regulators propose slimming corporate disclosure Facebook LinkedIn Twitter CSA sets rules on non-GAAP financial reporting dirty hands of a miner djembe/123RF Share this article and your comments with peers on social media Keywords Responsible investing,  DisclosureCompanies Autorité des marchés financiers Don’t believe the hype: BCSC proposes new rules for stock promoterslast_img read more

Modern Times Group considering US IPO as esports business grows

first_imgModern Times Group considering US IPO as esports business growsSwedish investment firm begins strategic review, which could also lead to joint venture partnership in video games spaceJames BatchelorEditor-in-ChiefTuesday 29th October 2019Share this article Recommend Tweet ShareModern Times Group is exploring the possibility of an Initial Public Offering as it seeks to grow its gaming business.The Swedish investor is already listed on Nasdaq Stockholm, but is now considering an IPO in the US, which it identifies as “one of the biggest esport markets in the world.”MTG has multiple interests in the esports space, demonstrated in part by its ownership of ESL and DreamHack, which organised major tournaments around the world.In its latest interim financial results, esports accounted for 1.52 billion SEK ($156 million) of the firm’s 4.02 billion SEK ($413 million) net sales for the three months ended September 30. Esports sales rose 12 percent, thanks largely to increased sponsorship sales.The prospect of an IPO in the US is one of the potential outcomes of a strategic review MTG has now initiated, which will look at how the company can improve on the returns from its various businesses.The review will concentrate on MTG’s gaming investments, which delivered net sales of 2.3 billion SEK ($236 million) last quarter. The company notes that this area has been a significant source of growth since it first acquired a stake in InnoGames back in 2016.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games The company also owns online games portal Kongregate and has invested more than $11 million in games firms this year alone.The results of the review could see MTG “[become] a global pure play esports company” or launch new joint venture partnerships in the games space that would generate more capital and open new markets for the company.MTG will be reporting regular updates on the strategic review in its quarterly interim reports.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesCEO says Paradox “can do better” as Q1 profits plummet”We are not satisfied with the quarter,” CEO Ebba Ljungerud saidBy Marie Dealessandri 12 hours agoStarbreeze’s Q1 losses shrink 95% to $505,000New CEO Tobias Sjögren says “the road ahead is clear” as Payday 3 is fully funded By James Batchelor 12 hours agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Kremlin critic Navalny announces return to Russia

first_imgNavalny said that he has almost fully recovered and the moment to leave Germany had come: “On Sunday, 17th January, I return to Moscow on Flight Victory.”The opposition politician risks arrest upon return. Russian authorities are seeking to jail Navalny for allegedly breaching the terms of a sentence and probation he received as part of a 2014 case. He is also accused of using 356 million rubles — about €3.9 million — in donations from charity organizations for personal purposes, which he has denied.“Putin again is stomping his feet and demanding everything is done to ensure I don’t return home … They’re doing everything they can to scare me,” Navalny said.He finished his announcement with a challenge to the Kremlin: “Come and get me.” Russian opposition leader Alexei Navalny says he will return to Russia on Sunday, five months after he was evacuated to Germany following an assassination attempt. Whether “to go back or not” was never a question, Navalny said in a statement published on his Instagram on Wednesday. He did not leave Russia voluntarily, but rather “arrived in Germany in an emergency box,” he added. On August 20, Navalny fell ill on a flight to Moscow and was taken to a hospital in Siberia before being airlifted to Berlin, where tests determined he had been poisoned with the chemical nerve agent Novichok. He has since been recuperating in Germany. last_img read more

ArvinMeritor Appoints New VP and Treasurer

first_imgLSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement TROY, MI — ArvinMeritor has appointed Mary Lehmann to the position of vice president and treasurer. Lehmann will also serve as an officer of the company. AdvertisementClick Here to Read MoreAdvertisement Lehmann most recently served as the company’s assistant treasurer, with responsibility for all aspects of treasury including debt and financing strategy, bank credit lines, foreign currency exchange and interest rate risk management and corporate insurance. In her new role, Lehmann will be responsible for ArvinMeritor’s global capital market and treasury activities, reporting to Jim Donlon, senior vice president and CFO. Before joining ArvinMeritor in 2004, Lehmann served in several roles of increasing responsibility at Ford Motor Co., including director of Affiliate Financing and director of Global Banking and Short-Term Funding. She holds an MBA and a Bachelor of Arts in economics, both from the University of Michigan. For more information about ArvinMeritor, visit: www.arvinmeritor.com . _______________________________________ Click here to view the rest of today’s headlines.,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit. last_img read more

Stephen Marley, Spragga Benz in a “Rub A Dub” style

first_imgStephen Marley Artists to perform at Spring Break Roots Dub FestReggae stars Stephen Marley, Spragga Benz, Dezarie and more go Rub a Dub style this Sunday, March 27 for the Spring Break Roots Dub Fest, starting 6 p.m.at Revolution Live in Fort Lauderdale.Celebrating the classic and internally influential genre, the event offers odes to dub music from the hottest contemporary stars. Doors open at 6 p.m. with performances from Dezarie, Then Ron Benjamin of the Midnite Band, hailing from the US Virgin Islands, will hit the stage at 8pm for a deep roots dub performance, along with a performance from South Florida’s own Mixed Culture band. The evening will be complimented with selections from popular Reggae Revival DJ Yaadcore from Jamaica, alongside the Mighty Jah Stream with Israel and Ragga, Agony Muzik with Chrys Lee, Supreme Sound with DJ Nkosi from St Lucia and Lalibela Muzik with Empress Yvette and Humble Lion.The night honors the unique genre that emerged from reggae in the 1960s, pioneered by iconic Jamaican producers such as King Tubby, Lee “Scratch” Perry and Errol Thompson. These producers, especially King Tubby’s and Lee “Scratch” Perry, looked on the mixing console as an instrument, and manipulated tracks to come up with innovative rhythms and unique soundscapes. Dub has influenced many genres of music, including rock, pop, hip hop, disco, and later on house, techno, ambient, electronic dance music, and trip hop. Dub has also become a basis for the genres of jungle/drum and bass and dubstep. However, traditional dub has survived, and some of the originators, such as Lee “Scratch” Perry and Mad Professor, continue to produce new material, and traditional dub sessions are now the norm once again.last_img read more

Stephen, Shyline emerge champs in MPIM

first_img FOLLOW US Written By COMMENT WATCH US LIVE SUBSCRIBE TO US LIVE TVcenter_img Kenyan Stephen Kipchirchir clocked a time of 2:17.39 to emerge victorious in the Maharashtra Police International Marathon on Sunday. Stephen, who has a personal best of 2:11:53, dominated the race finishing two minutes ahead of compatriot Dominic Kangor and Ethiopian Zike Debebe. The International Women’s elite race was a close encounter with Kenyan Shyline Jepkorir edging out her countrywoman Gladys Kemboi in the last 50 metres.Jepkorir, running in only her second full marathon clocked 2:41.58 and bettered her previous time of 2:57:00 by 14 minutes. Armyman Rahul Pal clocked an impressive 2:29:44 to win the Indian elite full marathon for men, narrowly edging out Naveen Hooda by a second, who came home in 02:29:45. In the women’s full marathon, Jyoti Gawate ran with blistering pace finishing strong at 02:54:16 to clinch the trophy, much ahead of Shyalmali Singh and Ritu Pal, who finished in 02:59:56 and 03:15:46 respectively.Rahul’s younger brother Abhishek Pal won the half marathon for Indian elite in a timing of 01:05:29. Kavita Yadav won the women’s half marathon in 01:20:01.  Press Trust Of India Last Updated: 9th February, 2020 17:02 IST Stephen, Shyline Emerge Champs In MPIM Kenyan Stephen Kipchirchir clocked a time of 2:17.39 to emerge victorious in the Maharashtra Police International Marathon on Sunday First Published: 9th February, 2020 17:02 ISTlast_img read more

Rep Huizenga schedules local office hours

first_img30Apr Rep. Huizenga schedules local office hours State Rep. Mark Huizenga of Walker set office hours to meet with local residents of the 74th District in the month of May.“I enjoy talking with people in district every chance I get,” Rep. Huizenga said. “Office hours are a way to directly hear your thoughts on the state issues you care about most. I hope to see you at one of these upcoming opportunities!”Office hours are scheduled for the following times and locations:Friday, May 10 from 7:30 to 9 a.m. at Rainbow Grill, 4158 Chicago Drive SW in Grandville;Saturday, May 11 from 8 to 9:30 a.m. at New Beginnings, 4735 Lake Michigan Drive NW in Grand Rapids; andSaturday, May 18 from 8 to 9:30 a.m. at Herman’s Boy, 220 Northland Drive NE in Rockford.No appointment is necessary. Residents unable to attend may contact Rep. Huizenga’s office by calling (517) 373-8900 or by email at [email protected] Categories: Huizenga Newslast_img read more