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…
Tag: sec
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…
Executive Stock Sales Are Under Scrutiny. Here’s What Regulators Are Interested In. – WSJ
The current system is one big loophole. You can schedule the sale so the date is fixed, but executives have almost complete control over corporate operations and the release of news. [Emphasis added below] Securities regulators are rethinking rules on popular plans that let corporate executives sell stock without violating insider-trading provisions. The plans—known as…
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…
Joe Kennedy: The SEC must require companies to disclose their risk from climate change
Joe Kennedy, great-grandson of the first Chairman of the SEC, calls on the Commission to be true to his commitment to informing investors of material risk. A 2019 survey of 215 of the world’s 500 largest companies found nearly $1 trillion in reported climate-related financial risk. A report last year from the federal Commodity Futures…
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…
