Section: July 27, 2023 | Vol. 28, Issue 27
Rate of Newly Public Companies Embracing Single Class Increases, Finds CII
U.S. IPO companies are showing signs of gravitating toward capital structures that align voting power with equity stake, an analysis by CII finds.
New SEC Rules Require Corporate Disclosure of Material Cyber Breaches, Risk Management
The SEC July 26 approved rules that require companies to disclose information about any cybersecurity incidents that they determine to be material and the processes they use to identify and manage material risks from cybersecurity threats.
House Financial Services Committee Approves Bills Addressing ESG, Proxy Advisors

At a Jul 27 hearing, the House Financial Services Committee approved several bills aimed at changing how the SEC operates, curbing shareholder proposals and imposing constraints on proxy advisors and proxy voting by asset managers.
Committee Chair Asks Asset Managers to Report on ESG Considerations in Proxy Voting

Rep. Bill Huizenga, chair of the House Financial Services Committee’s Subcommittee on Oversight and Investigations, sent a letter July 18 to the 10 largest asset managers asking them to provide details about how they factor in ESG considerations when making proxy voting decisions.