Category: Corporate Governance
Corp Fin refines its position on proxy access fix-it proposals (updated)
by Cydney Posner Corp Fin has refined its position with regard to exclusion of proposals to amend existing proxy access bylaws. As you may recall, the line drawn so far by Corp Fin has been that, where the shareholder proposal related to initial adoption of proxy access, Corp Fin has continued to […]
Recent trends in proxy statements
by Cydney Posner It just isn’t proxy season without some kind of account of the latest trends in proxy statements, so here’s one from CFO.com.
Shareholder proposals regarding lead director tenure: a harbinger of things to come? (Updated)
by Cydney Posner The topic of director tenure has increasingly become the focus of both academics and investors. Some argue that long-term directors contribute deep knowledge of the company and provide experience, historical memory and continuity to the board — along with the gravitas sometimes necessary to challenge management. Others […]
Proposed changes in the Financial CHOICE Act 2.0
by Cydney Posner A just-released memo (subscription required) from Jeb Hensarling, Chair of the House Financial Services Committee, to the Committee’s Leadership Team outlines the proposed changes from the original Financial CHOICE Act, introduced last year (see this PubCo post), to be included in the Financial CHOICE Act 2.0. Of […]
McKinsey study suggests alliances with sophisticated long-term investors can help blunt corrosive effects of short-termism
by Cydney Posner In this study, consulting firm McKinsey raises the question of why so many companies seem to be ensorcelled by their short-term investors, which own only about 25% of the shares of U.S. companies, while failing to address — or perhaps even understand — the needs of their long-term […]
BlackRock CEO’s annual letter asks companies to address impact of changes in global environment
by Cydney Posner This year, in his annual letter to corporate CEOs, Laurence D. Fink, CEO of asset manager BlackRock, challenges companies to address the impact of significant political, economic, societal and technological changes on their current strategies for long-term value creation: “As BlackRock engages with your company this year, […]
Executive order to dramatically cut regulations inapplicable to SEC
by Cydney Posner As reported by Reuters today, the White House clarified and confirmed, after the signing of the executive order yesterday designed to cut back on federal regulations — and notwithstanding the President’s commentary immediately preceding the signing critical of Dodd-Frank and related rules — that the executive order does not apply […]
Executive order signed to dramatically cut federal regulations (Updated 1/31/17)
by Cydney Posner The WSJ reports that the yet another executive order was signed today, this one designed to cut back on federal regulation. Under the executive order, federal agencies will need to eliminate two regulations for every new one created. The intent of the order, according to the new […]
Time to say goodbye to the Dodd-Frank Resource Extraction Disclosure Rules? (updated)
by Cydney Posner In an opinion piece in the WSJ, House Majority Leader, Kevin McCarthy, said that the House will soon be taking “the ax” to the SEC’s rules on Disclosure of Payments by Resource Extraction Issuers, mandated under Dodd-Frank, which, he argued, added “an unreasonable compliance burden on American energy […]
Update on proxy access proposals
by Cydney Posner What’s the latest on proxy access proposals? As you may recall, the line drawn so far by Corp Fin has been that, where the shareholder proposal related to initial adoption of proxy access, Corp Fin has continued to grant no-action relief and permit exclusion of proxy access proposals as […]
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