Council of Institutional Investors

Section: April 22, 2021 | Vol 26, Issue 15
CII Sends SEC List of Suggested Regulatory Priorities
CII sent a letter April 22 to the SEC commenting on the commission’s recent semiannual regulatory agenda and recommending that the agency prioritize the following actions:
SEC Moves Toward Finalizing Universal Proxy Rule
The SEC voted April 16 to reopen for 30 days the comment period on a proposed universal proxy rule, which would give shareholders the flexibility to vote for any combination of director nominees they support in a contested election without having to attend the meeting in person.
CII Website Now Helps Track Proposals to Eliminate Supermajority Vote Requirements
Numerous companies are putting forward proposals at their upcoming annual meetings to eliminate supermajority vote requirements and enact other beneficial governance practices.
House Committee Marks Up Bills Requiring New Corporate Disclosures
The House Financial Services Committee marked up a number of bills April 20, including ones addressing corporate disclosure of: political contributions; environmental, social and governance (ESG) metrics; and board diversity.
Hong Kong Exchange May Require New Hurdle for Long-Tenured Directors
The Hong Kong Exchange recently released a consultation on potential updates to its listing requirements that includes a new twist on promoting board refreshment.
SEC Decides Rooney Rule Proposals Pertain to Ordinary Business
The SEC staff said Activision Blizzard and Amazon may omit proposals filed by the AFL-CIO asking the companies’ boards to adopt a policy requiring that the initial pool of candidates from which new employees are hired by the company will include, but need not be limited to, qualified women and minority candidates.
Upcoming Annual Meetings Featuring Shareholder Proposals Filed by CII Members
Each proxy season, CII highlights upcoming annual meetings at which shareholder proposals filed by CII members will come to votes.