Board Diversity Report from SpencerStuart

A new report on board diversity from SpencerStuart finds more rhetoric, less progress. While it attributes that discrepancy to “low turnover,” that suggests that making board composition decisions is not a perpetual obligation and just because someone is a good director does not mean it is not time to replace him (it is usually him)…

SEC Rescinds Trump-Era Rules Governing Proxy Advisors

The SEC’s release: The Securities and Exchange Commission today voted to adopt amendments to its rules governing proxy voting advice as proposed in November 2021. The final amendments aim to avoid burdens on proxy voting advice businesses that may impair the timeliness and independence of their advice. The amendments also address misperceptions about liability standards…

SEC repeals Trump-era restrictions on proxy advice companies – MarketWatch

As we hoped and expected, the SEC has rescinded the proxy advisory rules pushed through by partisan vote at the end of the Trump administration. (The complaint from the minority Commissioners about partisanship is predictable but utterly hypocritical.) We regret that the rules maintained the categorization of proxy advisory reports as solicitations but the CII…

How Issuers and Investors Can Find Common Ground on ESG

As BNY Mellon discovered in a recent survey, investor pressure on issuers echoes these societal changes. Consequently, issuers and investors are increasingly focused on the disclosure and engagement practices related to environmental, social, and governance (ESG) topics.Our research finds that ESG considerations are rapidly becoming a core element of Investor Relations, enhancing IR teams’ practices…

Poised for Change? KPMG Boardroom Diversity Survey

KPMG Board Leadership Center’s new survey on board diversity found: Many directors would make moderate changes to their board’s composition if starting from a clean sheet. Directors have concerns about blind spots and missed opportunities due to a lack of diverse views. Sixty-nine percent of directors say board diversity of composition and thinking is relevant…

Audit watchdog to overhaul UK corporate governance code | Financial Times

The UK’s corporate governance code will be overhauled for the first time in four years with new rules to make boards more responsible for fraud and their company’s finances, and strengthen accountability for bad behaviour. The Financial Reporting Council, which oversees the audit industry, on Tuesday laid out plans to carry out recommendations made by…