Council of Institutional Investors

Section: December 15, 2022 | Vol. 27, Issue 46
CII Hails SEC for Closing Rule 10b5-1 Insider Trading Loopholes
CII applauded the SEC’s unanimous approval December 14 of final rules that close loopholes and enhance the transparency of executive trading plans in company stock. The adoption comes after CII pressed the commission for 10 years to reform Rule 10b5-1 trading plans.
SEC Proposes New Rules to Ensure Best Execution of Stock Trades
At the December 14 meeting the SEC voted unanimously to propose enhancements to monthly disclosures available to investors to assess the quality of trade execution for stocks listed on national exchanges.
Gensler Praises PCAOB for Work on Access to Audits of Chinese Firms, But Warns More Needs to Be Done
SEC Chair Gary Gensler December 15 touted the Public Company Accounting Oversight Board’s (PCAOB) announcement that it was able to inspect and investigate completely company audits of PCAOB-registered public accounting firms headquartered in China and Hong Kong. “
High Court Will Hear Case Involving Legal Standing of Unregistered Shares in Direct Listing
The Supreme Court agreed December 13 to hear a case involving Slack Technology’s 2019 direct listing and whether one of the company’s shareholders who owns unregistered shares in the company has legal standing to sue Slack for what he says was a misleading registration statement.
State Street Global Advisors Launches Voting Choice Program

State Street Global Advisors (SSGA) is partnering with Institutional Shareholder Services to offer more of its clients the ability to direct how shares held in the funds they own are voted.
Responsible Investment Community Loses a Stalwart
Sister Patricia Daly, OP, a Dominican nun who played a central role in the responsible investment movement, died December 9.