Council of Institutional Investors

Section: June 24, 2021 | Vol 26, Issue 24
CII Previews “Putting the Band Back Together” in Chicago in September
Last week we made the exciting announcement that CII’s fall conference will be an in-person event with a virtual live stream for members who cannot join us in Chicago.
CII Backs Rule Helping PCAOB Determine when It Cannot Inspect Foreign Accounting Firms
CII sent a letter to the Public Company Accounting Oversight Board (PCAOB) supporting the PCAOB’s new rule on Board Determinations Under the Holding Foreign Companies Accountable Act (HFCAA).
PCAOB Acting Chair Plans to Reassess Stakeholder Engagement, Advisory Groups
The Public Company Accounting Oversight Board Acting Chair Duane DesParte announced June 22 that he has directed staff to reassess the organization’s stakeholder engagement efforts, including revisiting the structure and membership of its advisory groups.
Record Number of Climate Lobbying Proposals Receive Majority Support
A record five shareholder proposals asking companies to report on how their lobbying activities align with goals to ameliorate the effects of climate change received majority support this proxy season.
DOL Plans to Reassess Definition of Fiduciary
As part of its June 11 semiannual regulatory agenda, the Department of Labor indicated that it planned to issue in December a proposed rule on the definition of "fiduciary."
Shareholder Rights Under Pressure from Derivative Suit Seeking Broad Reading of Anti-Greenmail Statute
Pending litigation stemming from a 2020 settled proxy contest at Big Lots risks expanding the interpretation of Ohio’s decades-old greenmail disgorgement law to cover financial gains from proxy contests.
After Voting Delay, Say-on-Pay Proposal Passes at Activision Blizzard
Activision Blizzard’s decision to extend the time its shareholders could vote on its say-on-pay proposal paid off for the company with CEO Robert Kotick’s $155 million compensation plan passing in a 54% vote on June 21.