The UK is about to stop shareholders monopolising votes for company boards, with worker voice. Asset managers control most shareholder votes in public companies through ‘other people’s money’. They have systemic conflicts of interest, because shareholder votes may influence companies to buy asset managers’ financial products (eg pension schemes). This enables mass self-dealing.
In this year’s November session, the ILO Committee on Freedom of Association – the supervisory body of the International Labour Organization (ILO) that examines cases concerning employers’ and trade unions’ rights to organize, collective bargaining and social dialogue – examined an extensive deficit of social dialogue in austerity measures taken in Greece and highlighted the need for ILO assistance in the country.