A group of distinguished securities law professors have submitted a comment to the SEC on the proposed rule that would require additional disclosures about climate change. Some highlights [footnotes omitted]: —The Commission’s disclosure authority extends not just to information relevant to investor trading decisions but also to information used by investors in connection with the…
Tag: sec
Nell Minow’s Comment to the SEC on Proposed Climate Change Disclosure Rule
VEA Vice Chair Nell Minow has submitted a comment to the SEC on File No. S7-10-22, Proposal on Climate-Related Disclosures for Investors. The full comment is attached below. An excerpt: Government regulation is most needed when there are collective choice issues or conflicts of interest. Both are the case when it comes to corporate disclosures….
File a Comment with the SEC on Climate Change Disclosure
The deadline for filing comments with the SEC on their proposed climate change disclosure rule is June 17, 2022. The comment does not have to be technical or use legal language. All you need to do is send an email to rule-comments@sec.gov with this in the subject line: Release No. 33-11042; File No. S7-10-22 And…
U.S. regulator sues Brazilian miner Vale over ‘false and misleading’ dam claims | Reuters
The U.S. Securities and Exchange Commission (SEC) on Thursday sued Brazilian miner Vale SA (VALE3.SA) for allegedly making false and misleading disclosures about the safety of its dams ahead of a 2019 disaster that killed 270 people.Beginning in 2016, Vale manipulated dam safety audits, obtained fraudulent stability certificates and misled local governments, communities and investors…
Corporate Governance Considerations Under the SEC’s Proposed Climate Disclosure Rules | Bracewell LLP – JDSupra
As we have noted previously, the U.S. Securities and Exchange Commission’s recently proposed rules governing climate-related disclosures, if adopted as proposed, would represent a sea change to the existing public-company disclosure regime. We focus here on the corporate-governance aspects of the proposed rules to help public company boards, executive management and in-house attorneys begin to…
SEC Proposes Rules to Enhance and Standardize Climate-Related Disclosures for Investors
The Securities and Exchange Commission today proposed rule changes that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, and certain climate-related financial statement metrics in…
SEC’s New Rules for Fund Managers on Cybersecurity Disclosures
The SEC is proposing new rules on cybersecurity disclosures for fund managers. The Commission also is proposing a new rule and form under the Advisers Act to require advisers to report significant cybersecurity incidents affecting the adviser, or its fund or private fund clients, to the Commission. With respect to disclosure, the Commission is proposing…
Quality Shareholder Initiative’s Professor Lawrence Cunningham on New SEC Restrictions on Shareholders
Prof. Lawrence Cunningham, Director of the Quality Shareholders Initiative writes about his concern that the SEC’s new disclosure requirements for activist shareholders will make constructive engagement and oversight more difficult. He does concede, though, that portions of the proposal actually make activist engagement easier. The 2022 proxy season is primed for historic levels of shareholder activism,…
SEC Resets the Shareholder Proposal Process
Sanford Lewis of the Shareholder Rights Group, has an excellent article on the SEC’s new guidance broadening the scope of (advisory) shareholder proposals, with a detailed history to provide context. His conclusion: Ultimately, the ability of a shareholder proposal to produce beneficial change at a corporation is grounded in a fundamental test—whether shareholders vote in…
Great News! William Birdthistle Becomes SEC Director of Division of Investment Management
We are delighted to hear that Professor William Birdthistle of the Chicago-Kent College of Law has been appointed to be Director of the SEC’s Division of Investment Management. The Division oversees regulatory policy for investment advisers and investment companies, including mutual funds and other investment products and services relied upon by retail investors. Professor Birdthistle…
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