Two Day Stewardship Conclave | November 25-26, 2021
The School for Corporate Governance (SCG) of NISM jointly with the CFA Institute-India had organised an Online Two Day Stewardship Conclave on November 25-26, 2021. The objective of the Conclave was to sensitize the stakeholders of Corporate Governance especially the Mutual Funds and Alternative Investment Funds about the Stewardship Code, introduced by SEBI and which has become effective from July 2020.
The Conclave also provided a platform to share research studies on Stewardship, especially on the current state of affairs, best practices and prominent issues while engaging with listed entities, in India, UK and other jurisdictions.
Day -1
Mr.Sivananth Ramachandran CFA & CIPM, Director Capital Markets Policy -CFA Institutewelcomed the participants, introduced dignitaries and shared his research studies on the Stewardship in the APAC Region.
Dr.V.R.Narasimhan Dean- NISM while underlining the theme of the webinar, requested the participants to understand the rationale behind the conclave in a holistic perspective.
Mr.Vidhu Shekhar Country Head, India-CFA Institute in his address and highlighted the current state of stewardship in India and the APAC region.
It was followed by a Panel Discussion moderated by Mr.Sivananth Ramachandran on Stewardship from a Multi-Stakeholder Perspective. The Members of the Panel who shared their perspectives in the discussion include Mr. Kanchinadham Parvatheesam (Company Secretary & Chief Legal Officer -Tata Steel), Mr. Harsha Upadhyaya (Chief Investment Officer Equity, President -Kotak Mahindra Asset Management Company Ltd), Mr. J.N.Gupta (Managing Director -Stakeholders Empowerment Services), Mr. Paul Milon (Head of Stewardship, Asia Pacific -BNP Paribas Asset Management) have shared their view points on Stewarship .
Day-2
Dr. CKG Nair Director- NISM, addressed the participants and shared his valuable insights. In his address, Director-NISM highlighted the substantial changes in the approach to corporate governance in India in the recent past. He was of the view that adherence to Stewardship Code, in both letter and spirit, would effectively enhance corporate governance and benefit the stakeholders in the long term.
Mr. Vidhu Shekhar Country Head, India -CFA Institute highlighted the current state of stewardship in India and also about the special collaboration between NISM and CFA Institute.
Mr. Ananta Barua Whole Time Member –SEBI in his Keynote Address, spoke in detail about the regulatory reforms brought in by SEBI on Stewardship Code. The WTM-SEBI called upon the Stewards (institutional investors) for a constructive engagement and dialogue with listed entities, which would help in bringing value to investors in the long term.
Mr.David Styles, Director Corporate Governance and Stewardship, Financial Reporting Council and Ms. Paolo Giua Senior Policy Associate –Financial Reporting Council made a detailed presentation on “Evolution of UK’s stewardship code and Findings from Stewardship Reporting Review” and shared their experience in implementation of the Stewardship Code in the United Kingdom.
Dr.V.R. Narasimhan, Dean-NISM, in his presentation provided a 360 degree perspective of the Stewardship Code brought in by SEBI and the way forward. Dean-NISM dwelt upon the level of participation of institution investors in performing their role as stewards and also presented a research study undertaken by the School for Corporate Governance of NISM in the above area.
More than 150 Participants had attended the Conclave and benefitted from the deliberations.
The programme concluded with a vote of thanks by Mr.M.Krishnamoorthy, Member of Faculty, NISM.
