CII’s draft bill, which calls for a mandatory sunset of seven years or less for companies with dual-class stock going public on U.S. exchanges, was one of eight pieces of legislation listed on the agenda for a March 30 hearing held by the House Financial Services Committee’s Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets. The hearing focused on oversight of U.S. stock exchanges.
CII sent a letter to the SEC March 31 supporting the commission’s proposed rules on disclosure of stock buybacks and suggesting additional related reporting items.
The SEC March 30 approved in a 3-1 vote a comprehensive set of proposed rules and amendments that would provide more information about, and additional investor protections in, SPAC initial public offerings and business combination transactions between SPACs and private operating companies (de-SPAC transactions).
This proxy season CalSTRS plans to use its considerable proxy voting power to push its portfolio companies to accelerate their efforts to improve board diversity and address climate change.
State Street Global Advisors (SSGA) made significant changes to its proxy voting guidelines in March 2022 as part of its annual guideline update.
Two competing plans for Toshiba’s strategic future failed to receive majority support at the company’s March 24 special meeting.
A March 21 PwC blog provides advice to companies preparing to eventually implement climate-related disclosure requirements like those recently proposed by the SEC.