Council of Institutional Investors

Section: April 20, 2023 | Vol. 28, Issue 15
Lawmakers Interrogate SEC Chair at Oversight Hearing

SEC Chair Gary Gensler was grilled for more than four hours, about issues ranging from the length of the commission’s rulemaking comment periods to whether the SEC has the authority to implement a climate disclosure rule, at an April 18 SEC oversight hearing before the House Financial Services Committee.
GOP Lawmakers Urge Gensler to Revamp SEC Agenda to Focus on Capital Formation
In an April 13 letter to SEC Chair Gary Gensler, House Financial Services Committee Chair Patrick McHenry (R-N.C.) and House Financial Services’ Subcommittee on Capital Markets Chair Ann Wagner (R-Missouri) said the SEC under Gensler has failed to promote capital formation, weakened public markets and decreased opportunities for investors.
Bank Shareholders Receive Clashing Exempt Solicitations on Environmental Proposals
Shareholders at six of the nation’s largest banks recently received exempt solicitations from the New York State Common Retirement Fund (NYSCRF) and the National Legal and Policy Center (NLPC) that take opposite stances on three types of shareholder proposals asking the banks to adopt or report on more environmentally friendly practices.
Primo Reverses Course, Accepts Nomination of Legion Partners’ Board Candidates
Primo Water agreed to accept all four board candidates nominated by Legion Partners, and the California-based activist investment manager dropped its lawsuit against the company after the two parties reached a settlement April 17.