BlackRock said it supported just 26 of the 399 (fewer than 7%) shareholder proposals on environmental and social issues that it voted on at annual meetings globally in the 12 months that ended June 30, 2023.
Following the collapses of Silicon Valley Bank and Signature Bank, President Joe Biden, Congress and the Department of Justice have turned their attention to clawing back executive compensation.
The say-on-pay proposal at Apple’s March 10 annual meeting received the support of 89% of the votes cast, and just two of the five shareholder proposals on the company’s proxy ballot garnered substantial support.
The SEC just announced that it will vote October 26 on whether to adopt rules to implement the clawback provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
During the fall conference, U.S. Asset Owner members overwhelmingly approved an amendment to CII’s corporate governance policies that redefines what CII considers “over-boarding.”
Recordings of these and all previous webinars are available to members in CII's Media Archive. Recent episodes of CII's podcasts are available on all major podcast listening platforms.
In a June 2 letter to Senate Banking Committee Chair Sherrod Brown (D-Ohio) and Ranking Committee Member Pat Toomey (R-Penn.), CII urged Congress to include the Multi-Class Accountability Act in the JOBS Act 4.0. The letter also strongly opposed several provisions in the discussion draft of JOBS Act 4.0.
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In a December 23 letter, CII encouraged the SEC to rescind the commission’s 2020 proxy advisor rules in their entirety, but also offered suggestions on how to improve the proposed changes.
Much of the evidence uncovered during the recent high profile Theranos trial provided prime examples of the serious risks companies can experience as a result of poor governance practices.
An Ohio court in mid-December rejected a motion to dismiss a derivative suit alleging that two activist funds, Ancora Advisors and Macellum Capital Management, violated Ohio’s greenmail disgorgement law by selling shares after settling a proxy contest.
News from the SEC This Quarter (Q4)
Proposed Rules Reversing Previous Regs on ESG Factors in Investing and Proxy Voting
A Roundup of News from Congress
CII filed an amicus brief November 10 supporting a lawsuit that investors in E.Merge Technology Acquisition, a special purpose acquisition company (SPAC), filed against the SPAC and its sponsors.
During this quarter, CII sent 10 letters on a host of key governance topics being considered by agencies, Congress, exchanges, companies and other entities.
Webinars and Podcasts (Q4)