Tag: political spending disclosure

BlackRock issues proxy voting guidelines for 2018 proxy season

As discussed in this PubCo post, BlackRock has recently issued its 2018 Proxy Voting Guidelines for U.S. Securities.  Because BlackRock is reportedly the largest asset management firm (with $6.3 trillion under management), its voting guidelines will matter to more than a few companies.  And BlackRock takes its proxy voting seriously. With the growth in index investing, CEO Laurence Fink has argued, asset managers’ responsibilities of engagement and advocacy have increased, given that asset managers cannot simply sell the shares of companies about which they have doubts if those companies are included in index funds.

Deregulation? What deregulation? Two (persistent) campaigns for enhanced disclosure requirements

Notwithstanding the deregulatory emphasis of the current administration, two campaigns are currently being waged to convince the SEC to adopt new regulations mandating more disclosure—one related to human capital management and the other related to a frequent target, corporate political spending. Are these just pipe dreams? Is it time for a reality check? Or might there be some basis for believing that this SEC might act on these requests?

House votes to “defund” disfavored SEC rules, potential rules and guidance

by Cydney Posner On Friday, the House passed H.R. 5485, the Financial Services and General Government Appropriations Act for fiscal year 2017, which includes appropriations for the SEC.  As noted here and here, included as part of the bill were several amendments directed at defunding SEC rules, potential rules and […]

SEC Chair White discusses SEC coming attraction: board diversity disclosure

by Cydney Posner In a speech last week to the International Corporate Governance Network Annual Conference, SEC Chair Mary Jo White announced that the Corp Fin staff is preparing a proposal to amend the current rule requiring board diversity disclosure in proxy statements. The goal will be to require “more […]

Politico reports: prohibition on corporate political spending disclosure a sticking point in omnibus spending bill negotiations

by Cydney Posner According to Politico (subscription required), a “provision to prohibit the SEC from requiring companies to disclose their political campaign contributions is one of the last sticking points in the omnibus spending package, two sources said.”  One of bill’s negotiators said there were a few sticking points remaining, one […]

Senate Dems ask SEC Chair to act on petition for political spending disclosure

by Cydney Posner With election season upon us  — after all, the election is only, well, a year and two months away – it’s time to renew the controversy over political spending disclosure.  As you may recall, in 2011, a rulemaking petition was filed with the SEC  by a committee of […]

House aims to stop SEC from requiring political spending disclosure — companies increasingly “volunteer” spending information

by Cydney Posner It may seem early to you to be thinking about Christmas, but not to Congress.  In fact, it’s just that time of year again when Congress uses annual appropriations bills as a Christmas tree for all of its favorite ornaments.  In this year’s financial services spending bill, […]