Council of Institutional Investors

Section: November 3, 2022 | Vol. 27, Issue 41
New SEC Rule Changes How Funds Must Report on Their Proxy Voting, Lending

The SEC November 2 approved a final rule that changes how institutional investment managers are required to report on how they vote their proxies and lend shares.
GOP Lawmakers Press for Gensler to Testify Before House Financial Services Committee, Question SEC “Off-Channel Communications”

Patrick McHenry (R-N.C.), ranking member of the House Financial Services Committee, and Bill Huizenga (R-Mich.), ranking member of the Committee’s Subcommittee on Investor Protection, sent a letter to Committee Chair Maxine Waters (D-Calif.) asking her to invite SEC Chair Gary Gensler to testify.
Dual-Class Stock with Unequal Voting Rights Poised to Advance in European Markets
?Financial authorities in some European markets are contemplating legal or regulatory changes to permit companies to have dual-class capital structures with differential voting rights.
BlackRock CEO Predicts Technology Will Lead to Revolution in Shareholder Democracy
In his annual letter to clients and CEOs, BlackRock CEO Larry Fink touted his firm’s “Voting Choice” capability, which gives certain institutional investor clients more choice in voting their shares, including the option to vote directly. He predicted that technology would enhance engagement and voting, leading to a “revolution in shareholder democracy” that will help transform the relationship between asset owners and companies and ultimately lead to improved corporate governance practices.
S&P 500 Boards Add Younger, More Diverse Directors, Finds Spencer Stuart
Younger, more diverse directors account for the vast majority of board members joining S&P 500 companies this year, reports Spencer Stuarts’s 37th annual Board Index.