Labour vows to hold public inquiry into UK financial sector | Financial Times

An incoming Labour government would launch a public inquiry into Britain’s financial industry to “reveal and root out corruption”, under a plan being drawn up by shadow chancellor John McDonnell. He wants to hold a 12-month public inquiry, set up under the 2005 Inquiries Act, to take evidence under oath into misconduct in the financial…

Critique of Warren Proposal on Corporate Accountability

Denise Kuprionis analyzes Senator Warren’s proposal for federal charters of large corporations on the Conference Board corporate governance blog. She finds a number of its provisions are already covered or counterproductive. An excerpt: Perhaps a better answer than the ACA is to better promote benefit corporations as an option for companies. Then to determine and…

Support for Senator Warren’s Accountable Corporations Act

Leading scholars and practitioners have written to endorse Senator Elizabeth Warren’s proposed Accountable Corporations Act. Dear Senator Warren, We are a group of long-term scholars and practitioners of the law, finance, and economics of corporations and other business entities. We write you now in support of your Accountable Capitalism Act. We believe legislation along these…

Major Rollback of Dodd-Frank Signed into Law

President Trump has signed the biggest rollback of bank rules since the financial crisis in a major repeal of provisions of the Dodd-Frank legislation. The new law eases restrictions on all but the largest banks, raising the threshold to $250 billion from $50 billion under which banks are deemed too important to the financial system…

The $24 Million Reasons Dems Back America’s Worst Banks

Why would 16 Democratic senators join their Republican colleagues in pushing a bill that lays out a rich banquet of goodies before some of America’s worst bankers, and increases the risk that taxpayers will have to bail them out?Here are 24 million reasons: These 16 Democrats have collectively received $24,488,961 in campaign contributions from savings and…

Phil Angelides Strongly Objects to Rolling Back Dodd-Frank Protections

Phil Angelides, who chaired the committee evaluating the causes of the financial meltdown and recommending changes to prevent another one, has written a very strong letter objecting to proposals to roll back the protections of Dodd-Frank. March 5, 2018 The Honorable Mike Crapo Chairman, U.S. Senate Committee on Banking, Housing, and Urban Affairs 239 Dirksen…

WSJ CFO Network, Washington 2017

The Wall Street Journal’s CFO Network gathering is always engaging and informative. This year VEA Vice Chair Nell Minow attended to appear at breakout sessions on board effectiveness and shareholder activism, and reported back on what she learned: The speakers included Senators John McCain on national security (he said his biggest fears are North Korea…