The SEC has rejected a request from Johnson & Johnson that it exclude from its proxy statement a shareholder proposal that it conduct a ‘civil rights audit.’ Trillium Asset Management, on behalf of Christopher and Anne Ellinger, has submitted the measure requesting that Johnson & Johnson ‘conduct and publish a third-party audit… to review its…
Tag: sec
Senator Warren Calls on the SEC to Address Stock Market Gamesmanship Amid Volatile GameStop Trades
United States Senator Elizabeth Warren (D-Mass.); a member of the Senate Committee on Banking, Housing, and Urban Affairs; sent a letter to Acting Securities and Exchange Commission (SEC) Chair Allison Herren Lee requesting that the agency provide Congress and the public information on how they will address the dramatic swings in market valuation of GameStop…
Joe Biden must take a global lead on climate risk disclosure | Financial Times
This is especially powerful because one of the authors is Robert Herz, former Chairman of FASB. Ideally, Mr Biden would be able to win bipartisan support for his policies. But, even with a sharply divided US Congress, the Biden administration can make significant progress on issues such as climate risk by using executive orders and…
Francine McKenna: A tale of two SEC enforcement actions — Luckin Coffee and GE
Francine McKenna’s columns on The Dig are always thoughtful and informative. We particularly appreciate her comments on two last-minute settlements by the Trump/Clayton SEC.
The Chamber’s Appalling Amicus Brief on Proxy Advisors
The Chamber of Commerce, which has already deployed millions of dollars to get the SEC to restrict the sole source of independent research on proxy issues, has now filed an amicus brief in the ISS challenge to the rules. As expected, it is wrong on the facts and wrong on the law. It is particularly…
Four Spots Biden Is Likely to Reverse SEC Deregulation
In a Biden administration, a reconstituted SEC led by a Democratic chair and consisting of a Democratic majority will most likely launch an active rulemaking agenda, roll back Trump-era regulations, and step up its enforcement and inspections programs. Here are the four places to look first as the SEC retires the Commission’s current deregulatory approach….
NAM Wants to Intervene in the ISS Challenge to the Proxy Advisory Rule
I couldn’t help laughing when I saw that the National Association of Manufacturers has filed a motion with the court to intervene in the ISS lawsuit challenging the SEC’s new rule on proxy advisory firms. What they are asking is to be considered one of the parties to the case, and thus be allowed to…
Proposed amendments to shareholder proposal rules—bruised but unbowed? – Cooley PubCo
The SEC may have postponed until next week the open meeting originally scheduled for yesterday to consider adoption of revisions to the shareholder proposal rules, but Reuters has the inside scoop on the outcome of at least one controversial provision: according to Reuters, say farewell to the “momentum” provision. The expected deletion of the provision,…
Letter to the SEC on Shareholder Proposals Charges the Commission with Improper Exclusion of Evidence
A group of investors including the Council of Institutional Investors, ICCR, SIF, CERES, and PRI have written a very powerful letter to the SEC about the proposed rule on shareholder proposals, which is supposed to be voted on this month. The letter accuses the Commission of not allowing an adequate basis for comment on the…
SEC Cancels Vote Limiting Whistleblower Rights — Again
The U.S. Securities and Exchange Commission has canceled a scheduled vote on proposed rules that would restructure its Dodd-Frank Act mandated whistleblower reward program. This is the second time the vote on the proposed changes has been canceled. “We hope that the Commission is using this additional time to ensure that the proposed changes do not…
