In Focus

SEC Chair Gensler to Speak at CII Fall Conference

​SEC Chair Gary Gensler will address CII members on the first day of CII’s fall conference, September 22. Gensler will give a short talk and take questions from members. Also speaking at the conference that day are Illinois State Treasurer Michael Frerichs, Nasdaq CEO Adena Friedman, BlackRock Managing Director Michelle Edkins, Engine No. 1 Partner Charlie Penner and Aeisha Mastagni, portfolio manager at California State Teachers’ Retirement System. CalSTRS championed Engine No. 1’s successful proxy contest at Exxon Mobil earlier this year. CII invites members to register for the September 22-24 conference, Putting the Band Back Together, at the Westin Chicago River North. The hotel discount rate expires August 30. For sponsorship and advertising opportunities, contact Melissa Fader.

CII Backs IFRS Efforts to Create ISSB, Seeks Changes to Composition, Funding

In a July 15 letter to the International Financial Reporting Standards (IFRS) Foundation, CII applauded the foundation’s efforts to develop a global architecture for sustainability reporting in the form of an International Sustainability Accounting Standards Board (ISSB). The ISSB would establish a baseline for environmental, social and governance (ESG) disclosure. But CII pressed IFRS to boost the representation on the board of investors with knowledge of financial analysis that incorporates sustainability issues. CII also cautioned that full-time board members and adequate funding are needed to ensure the ISSB’s independence.

SEC’s Regulatory Agenda Mirrors CII’s 2021 Priorities

The SEC on June 11 released a Spring 2021 rulemaking agenda that closely aligns with most of the advocacy priorities that CII set out for this year.
Areas of alignment in the new agenda include plans for the SEC to: 1) revisit its 2020 rules and guidance on proxy voting and proxy advisors as well as rules that increased the thresholds for the submission and resubmission of shareholder proposals; 2) re-propose rules that would require national securities exchanges to adopt listing standards requiring listed companies to adopt certain incentive-based compensation claw back policies; 3) examine reforms  to address concerns about potential misuse of Rule 10b5-1 trading plans by company insiders; and 4) require corporate disclosures relating to climate change, human capital, board diversity and cybersecurity risk.

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