Council of Institutional Investors

Section: May 13, 2022 | Vol 27, Issue 18
PCAOB Appoints CII General Counsel Mahoney, CII Members to Advisory Groups
The Public Company Accounting Oversight Board (PCAOB) on May 9 appointed CII General Counsel Jeff Mahoney to its Investor Advisory Group (IAG) and Standards and Emerging Issues Advisory Group (SEIAG).
CII Generally Supports SEC’s Proposed Enhancements to Cybersecurity Disclosure
CII’s May 9 letter to the SEC on the commission’s proposed rules on cybersecurity risk management says the rules will improve "the ability of investors to analyze risk at the company level, while also conveying systemic benefits to investors, consumers and U.S. economic security."
SEC Extends Comment Period for Climate Disclosure Proposal
Investors will have more time to review and comment on the SEC’s 490-page proposed rulemaking on standardizing climate-related disclosures, which was released in March. Under pressure from many lawmakers, the commission announced May 9 that it is extending the public comment period on the rulemaking from May 20 to June 17.
Slack Plans to Take its Defense of Untraceable Direct Listings to the Supreme Court
Slack Technologies plans to take its case defending direct listings to the Supreme Court now that the Ninth Circuit Court of Appeals has denied the company’s request to rehear the case it lost.
CFA Institute Report Urges Tighter Rules, More Disclosure for SPACs

In a report published May 12, the CFA Institute asks the SEC to beef up regulation of SPACs by requiring comprehensive disclosures, clarifying that de-SPAC mergers are liable for errors and omissions in forward-looking statements and making financial advisors to such mergers liable, too.
CII Members’ Proposals Ask Companies to Disclose More Info on DEI
Although the vast majority of proposals asking companies to report on efforts to improve diversity, equity and inclusion (DEI) in their boardrooms and within their ranks have been withdrawn by proponents after successful engagements with companies, a number of proposals addressing these issues that were filed by CII members have made it onto proxy ballots.