Council of Institutional Investors

Section: November 4, 2021 | Vol 26, Issue 41
CII Supports Draft Bills on Dual-Class Stock and PCAOB Audits of Foreign Companies
CII sent a letter November 2 to the leaders of the House Financial Service’s Committee’s Subcommittee on Investor Protection, Entrepreneurship and Capital Markets expressing support for two draft bills.
Legal Bulletin Explains SEC Staff’s New Approach to No-Action Decisions
The SEC’s Division of Corporation Finance issued a staff legal bulletin November 3 to streamline and simplify its process for reviewing no-action submissions by companies seeking to exclude shareholder proposals from proxy ballots, and to clarify the standards that staff will apply when evaluating these requests.
IFRS Foundation Lays Groundwork for Global Sustainability Disclosure Standard-Setter
The IFRS Foundation Trustees November 3 announced the formation of a new International Sustainability Standards Board (ISSB), which will develop a comprehensive global baseline of sustainability disclosure standards for investors.
Disney Seeks to Omit Proposal, Saying Proponent Failed to Provide Detailed Information about Availability to Talk
Walt Disney is seeking to omit a proposal from its proxy ballot by arguing that the proponent did not comply with the new shareholder proposal rules requiring proponents to indicate a specific time that they are available to discuss their proposal with the company.