Boards & Shareholders


PathForward

At rare open meeting, PCAOB says it’s on path to change

2019-11-22T16:01:00+00:00By

A recent PCAOB open meeting reviewed details about shareholder outreach and offered a view into its five-year strategic plan.

PointTheFinger

More companies pointing finger at proxy advisory firms

2019-11-22T15:53:00+00:00By

A new survey from the U.S. Chamber of Commerce and Nasdaq says the number of companies identifying conflicts of interest at proxy advisory firms has almost doubled.

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House passes bill requiring disclosure of diversity on corporate boards

2019-11-20T20:55:00+00:00By

If enacted, legislation on corporate board diversity would require the SEC to work on strategies to increase gender, racial, and ethnic diversity on corporate boards.

Clayton2

SEC’s Clayton pushes modernization at UPenn speech

2019-11-15T20:49:00+00:00By

Touting the SEC’s recent accomplishments, Chairman Jay Clayton maintains modernization helps advance the regulator’s “tripartite mission” and gives some hints about next year’s agenda.

Board

ISS unveils 2020 policy updates

2019-11-12T17:11:00+00:00By

Proxy advisory firm Institutional Shareholder Services has released updates to its 2020 benchmark proxy voting policies. The updated policies will generally be applied for shareholder meetings on or after Feb. 1, 2020.

SEC

SEC champions proposals to amend outdated proxy solicitation rules

2019-11-06T18:55:00+00:00By DeAnn Orie

SEC Chair Jay Clayton and Commissioner Elad Roisman, among others, convened a roundtable to explore proposals to proxy voting rules calling for consistent regulation across the markets and better disclosure of conflicts to clients.

BoardInvolvement

Survey: Board governance issues expanding amid volatility

2019-11-04T19:51:00+00:00By

The role board directors of public companies play in providing oversight and governance around business strategy, investments, and policies—and their focus on emerging issues—has reached new heights, according to the findings of BDO’s 2019 board survey.

Investigate

Argo launches review into ‘decrepit’ governance woes

2019-10-16T19:46:00+01:00By

Argo Group International Holdings recently announced the launch of a review into governance and executive compensation matters following an SEC subpoena and harsh criticism from an activist investor group.

Asset 1

AT&T might be the next Wells Fargo (and doesn’t seem to be doing anything about it)

2019-10-15T14:12:00+01:00By

A federal securities lawsuit against AT&T and multiple executives of the company mirrors many of the same troubling ethics and compliance failures that plagued Wells Fargo. Inside, we take a deep dive into the allegations.

Boardroom

Study: Shareholder support down for board nominees

2019-10-08T17:19:00+01:00By

The number of board nominees who failed to receive majority shareholder support in the first six months of 2019 reached a five-year high, according to the latest ProxyPulse report.

SEC

SEC modernizes rules on exchange-traded funds

2019-10-01T16:40:00+01:00By

Despite an effective date about a year out, regulated entities still need to make some decisions now about policies and procedures if they are relying on a new regulation applying to exchange-traded funds.

Canada

Understanding Canada’s new diversity disclosure requirements

2019-09-30T17:35:00+01:00By

Starting next year, Canadian companies will be required to disclose much more about their diversity efforts, including many who will have to do so for the very first time.

ATT

Shareholder lawsuit alleges massive fraud at AT&T

2019-09-27T19:50:00+01:00By

A lawsuit filed on behalf of shareholders against AT&T and its executives and directors alleges widespread fraudulent sales and customer-manipulation tactics regarding the company’s DirecTV Now offering.

Board

CII urges companies to commit to long-term executive pay

2019-09-18T17:10:00+01:00By

The Council of Institutional Investors overhauled its policy on executive compensation, urging public companies to dial back the complexity of their plans and set longer periods for measuring performance for incentive pay.

Prudential

Prudential subsidiaries to pay $33M for misleading disclosures

2019-09-17T16:46:00+01:00By

The SEC has charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised.

Shareholders

EY analysis: Audit committees increasing their disclosures to shareholders

2019-09-12T17:42:00+01:00By

Audit committees continue to increase the amount of disclosures they are providing to shareholders across a wide variety of categories, according to a recent analysis conducted by EY.

Board table

New SEC guidance addresses proxy voting process

2019-08-28T19:09:00+01:00By

New SEC releases address the applicability of proxy rules to proxy voting advice and provide guidance to investment advisers in fulfilling their proxy voting responsibilities, particularly when they retain the services of a proxy advisory firm.

columnist icons

Kudos to Business Roundtable for advancing ‘purpose of a corporation’

2019-08-22T18:49:00+01:00By

While some mock the true intent of the Business Roundtable’s newly revised “Statement on the Purpose of a Corporation,” others are lauding the fact that it brings social responsibility into the limelight.

Hong Kong protest

Cathay Pacific execs quit due to Hong Kong protests

2019-08-20T15:19:00+01:00By

Amid pressure from Chinese authorities after initially not penalizing employees for taking part in the Hong Kong pro-democracy protests, two top Cathay Pacific executives have tendered their resignations.

WallStreet

Warren’s next battleground: private equity firms

2019-07-19T15:49:00+01:00By

Under newly filed legislation, The Stop Wall Street Looting Act, firms would share responsibility for the liabilities of companies under their control, including debt, legal judgments, and pension obligations.

SFO building

SFO appoints two non-executive directors

2019-06-17T20:07:00+01:00By

The U.K. Serious Fraud Office has appointed two new non-executive directors: Emir Feisal and Martin Spencer.