During a May 20 markup, the House Financial Services Committee approved a bill requiring muti-class companies to provide clearer, more detailed information to investors about how unequal voting structures impact their rights as shareholders.

CII is proud to announce the newly appointed members of CII’s U.S. Asset Owners Advisory Council—a distinguished group of leaders from U. S. public pension, corporate, labor, foundation and endowment funds.

“The SEC is returning rulemaking to regular order,” SEC Chair Paul Atkins declared in testimony before the House Appropriations’ Subcommittee on Financial Services and General Government during a May 20 SEC oversight hearing.

The SEC will host a roundtable June 26 to discuss executive compensation disclosure requirements with representatives from public companies and investors, as well as other experts in this field.

Senate Banking Committee Chairman Tim Scott (R-S.C.); Subcommittee on Securities, Insurance, and Investment Chairman Mike Rounds (R-S.D.); and Protecting Main Street Investors Working Group Chairman Bill Hagerty (R-Tenn.) sent a letter May 21 to the CEOs of Institutional Shareholder Services (ISS) and Glass Lewis demanding information about how the proxy advisory firms make their voting recommendations, the potential for conflicts of interest and the processes used to develop and apply voting policies.

Rep. Barry Loudermilk (R-Ga.) May 14 introduced legislation that would require institutional investors to provide detailed disclosure about how they use proxy advisors and perform economic analyses before voting contrary to corporate board recommendations.

On the heels of Texas Governor Greg Abbott signing into law a bill that insulates companies and boards from litigation, Tesla, which reincorporated to Texas last year, amended its bylaws to reflect that change.