SEC.gov | Sample Letter to Companies Regarding Climate Change Disclosures

The Commission has stated that a number of its disclosure rules may require disclosure related to climate change.[2]  For example and depending on the particular facts and circumstances, information related to climate change-related risks and opportunities may be required in disclosures related to a company’s description of business, legal proceedings, risk factors, and management’s discussion…

SEC Sued Over NASDAQ Road Diversity Rule

Once again, those who love to rhapsodize about the free market want to protest when they don’t like the results. A group claiming to be about free enterprise is suing the SEC over its approval of the NASDQ listing standards on board diversity. For the thousandth time, that rule is not a quota. It is…

CII Files Amicus Brief in Shareholder Proposal Rule Challenge

CII has filed a “friend of the court” brief in the challenge filed by Jim McRitchie and As You Sow to the SEC rule restricting shareholder proposals that was published in a flawed, rushed rulemaking in the last weeks of the Trump administration. Some highlights from the brief: In its haste to adopt these rule…

SEC Wants Better Disclosure of Proxy Votes from Fund Managers

The Wall Street Journal writes: The Securities and Exchange Commission proposed a rule that would require money managers to disclose more information on how they use their voting power. When investors buy a mutual fund and exchange-traded fund from an asset manager, the money manager votes on shareholder proposals on behalf of the investors. Shareholder…

SEC Chair on Climate Risk Disclosure

SEC Chair Gary Gensler spoke to PRI about climate risk disclosure requirements. Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and I’m not speaking on behalf of the…

SEC Chair Gensler on Climate Risk Disclosures

Chair Gary Gensler spoke about upcoming SEC guidance on climate Risk to the Principles for Responsible Investment (emphasis added): Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and…

SEC Commissioner Hester Peirce’s Disingenuous Slant on ESG

SEC Commissioner Hester Pierce, who came to the Commission from the Koch-funded, ultra-anti-regulatory Mercatus Center, the same person who informed the Council of Institutional Investors that their members did not know what it was that investors needed, is now speaking out against ESG disclosures, in a speech to Brookings. What is especially infuriating about Pierce…

SEC Asset Management Advisory Committee Recommendations for ESG Disclosure

Recommendations Regarding Issuer Disclosure of Material ESG Matters: –  The AMAC recommends the SEC take steps to foster meaningful, consistent, and comparable disclosure of material environmental, social, and governance (ESG) matters by issuers. –  To foster meaningful, consistent, and comparable disclosure, the SEC should encourage issuers to adopt a framework for disclosing material ESG matters…