The directors newly elected to the board for 2023-2024 are: Joseph Aguilar, CIO for Illinois State Treasurer Michael Frerichs; Tracy Harris, a trustee of the District of Columbia Retirement Board; Margaret Madden, senior VP and corporate secretary at Pfizer; and Jennifer O’Dell, assistant director of corporate affairs for the Laborers’ International Union of North America. …
Tag: cii
CII Welcomes New SEC 10(b)5-1 Rule
From the Council of Institutional Investors: CII applauds the SEC’s unanimous approval today of final rules that will close loopholes and enhance the transparency of executive trading plans in company stock. The adoption comes after CII pressed the commission for 10 years to reform these Rule 10b5-1 trading plans. “The new rules close gaps in the SEC’s…
CII Spring Conference Highlights
This year’s theme was “Putting the Band Back Together.” Attendees who last gathered at the March 2020 spring conference were very aware that it was their last public event before the COVID-19 shut-down. After virtual gatherings, it was good to be back at the Mandarin. Or at least it looked that way — press were…
CII Spring Conference 2021–Highlights
From VEA Vice Chair Nell Minow: I remember taking the escalator down to the CII conference last year and seeing boxes of hand sanitizer and antiseptic wipes. People greeted each other with elbow taps and made grim jokes about this new virus we were hearing about. A week later, everything shut down. So, this year’s…
CII Letter to DOL/EBSA on the Proxy Voting Proposal
The Council of Institutional Investors has filed a comment objecting to the proposed rule form DOL/EBSA on proxy voting by ERISA fiduciaries. The full comment is below. An excerpt [footnotes omitted]: DOL has not provided a persuasive rationale for the Proposed Rule. In fact, the Proposed Rule is premised on fundamentally flawed assumptions about shareholder…
Letter to the SEC on Shareholder Proposals Charges the Commission with Improper Exclusion of Evidence
A group of investors including the Council of Institutional Investors, ICCR, SIF, CERES, and PRI have written a very powerful letter to the SEC about the proposed rule on shareholder proposals, which is supposed to be voted on this month. The letter accuses the Commission of not allowing an adequate basis for comment on the…
CII Comment on Proposed DOL ESG Rule
CII’s comment to DOL/EBSA includes an outstanding list of empirical studies supporting the financial impact of ESG factors. The full comment is below. An excerpt: We also believe the Proposed Rule would create significant burdens of proof for investment approaches that emphasize investment risk and opportunities around ill-defined ESG matters, without subjecting funds that dismiss…
CII Letter to SEC about PCAOB and China
The Council of Institutional Investors has written to the SEC to raise concerns about plans to cut back on investor protections and accounting oversight. The full letter is below. An excerpt (footnotes omitted): [We] respectfully request that the PCAOB investigate the matter to the extent possible and determine whether it is appropriate and in the…
CII Letter to the SEC on Proxy Advisors
CII members have written to the SEC to express very serious concerns about the SEC’s recent actions with regard to proxy advisory firms. We are disappointed that the SEC did not ask for public comment on its new Proxy Advisor Interpretation and Guidance before issuance. We would ask that the SEC re-consider that interpretation and…
CII Letter to Delaware State Bar Association: Limiting Multi-Class Voting Structures
We are writing on behalf of the Council of Institutional Investors (CII) to request that the Delaware State Bar Association propose to the Delaware General Assembly that Delaware General Corporation Law (DGCL) be amended to limit the authority of Delaware corporations listed on national securities exchanges to adopt multi-class common stock structures with differential voting…
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