Shareholder advisory group, ISS, has backed shareholders at Deutsche Bank's AGM to vote for a special audit on whether management at the bank breached legal obligations in connection to a series of legal and regulatory issues. ISS also recommended that the shareholders vote against Deutsche Bank's remuneration system for managers. The report was commissioned by the German government following revelations last year about how the bank's board had been influenced by executives from its US arm, which is now being investigated over allegations it misled investors into buying
Shareholder advisory group, ISS, has backed shareholders at Deutsche Bank's AGM to vote for a special audit on whether management at the bank breached legal obligations in connection to a series of legal and regulatory issues. ISS also recommended that the shareholders vote against Deutsche Bank's remuneration system for managers. This latest announcement is on the same lines of advice given to the shareholders last week by UK advisory firm Pensions & Investments Research Consultants, who have recommended they do not approve the decisions made by the lenders' board.