A Catch 22 for Asset Managers

Jasmin Sethi writes about the impact of concentrated voting power and calls for better disclosure of the exercise of ownership rights: The big three—BlackRock, State Street, and Vanguard—are victims of their own size. As they have increased their assets under management, they have also increased their voting power as typically they vote the shares for…

Climate Change Disclosures–More and Better

For more than 20 years, large companies have been ramping up the depth and breadth of their disclosure on GHG emissions. At the same time, the amount of forward-looking financial information on climate risks and the opportunities being provided to investors has been patchy at best. But in the short time since July 2017, following…

Outrageous Attack on Political Spending Disclosure Proposal at Disney

It is not just the name of the group objecting to disclosure of political spending that is oxymoronic; it is the vocabulary they use in trying to explain that a proposal to require disclosure of political spending is somehow contrary to notions of free speech instead of the only way to preserve it. The “Free…

“Free Market” Shareholder Proposal on Lobbying Disclosure at Caterpillar

A shareholder proposal on disclosing of lobbying priorities from the right-wing National Center for Public Policy Research’s Free Enterprise Project: At this week’s Caterpillar annual shareholder meeting, the National Center for Public Policy Research’s Free Enterprise Project (FEP) is asking company investors to support FEP’s shareholder resolution asking the heavy equipment manufacturer to report on…

A Very Disturbing U.S. Court of Appeals Decision About Corporate Disclosure Rules

The DC Circuit Court of Appeals has issued a very disturbing decision, ruling that corporations do not have to meet the Dodd-Frank requirements concerning disclosure of conflict minerals because it violates their First Amendment rights. The decision calls into question the authority of the government to require ANY disclosures by corporations. [T]his isn’t just about…

PWC Investor opinion survey on Corporate disclosure

PWC surveyed investors to find out what disclosures are most meaningful to them.  The report is free for download, well worth it for the graph showing the increase in size of 10-K files alone. Disclosure requirements for public companies have grown over time, but are they helpful to investors or are they a burden? We…