Council of Institutional Investors

Section: July 28, 2022 | Vol 27, Issue 28
CII Emphasizes Standard Setter Independence and Materiality in Comments to ISSB
CII generally supports the International Sustainability Standards Board (ISSB) and its, admittedly difficult, mission to develop a comprehensive global baseline for corporate sustainability disclosures, says a July 28 letter CII sent to ISSB Chair Emmanuel Faber.
CII Opposes NYSE-Proposed Changes to Direct Floor Listings

CII sent a letter to the SEC July 28 opposing a proposed rule that would modify certain pricing limitations for securities listed on the New York Stock Exchange under a primary direct floor listing.
CII, Investor Coalition Encourage U.K. FCA to Limit Super-Voting Rights
The Investor Coalition for Equal Votes (ICEV) July 28 encouraged the U.K. Financial Conduct Authority (FCA), which is considering replacing “Premium” and “Standard” listing categories with a single segment regime, to move forward with contemplated limits on super-voting rights.
Trade Associations, Chamber, BRT Sue to Block SEC’s Roll Back of Proxy Advisor Rules

The National Association of Manufacturers (NAM) and the Natural Gas Services Group (NGSG) as well as the Chamber of Commerce, Business Roundtable (BRT) and the Tennessee Chamber of Commerce & Industry filed two separate lawsuits this week to prevent the SEC from rescinding two provisions in its proxy advisor rules.
Proposal Requesting More Info on Rule 10b5-1 Trading Plans Garners Strong Support

A proposal filed by New York City Comptroller Brad Lander asking McKesson to disclose when its executives adopt, modify or cancel a Rule 10b5-1 trading plan received 49.5% of the votes cast at the company’s July 22 annual meeting.
GOP Lawmakers Scold Gensler for Not Providing Info on Proposed Climate Disclosure Rules

Senate Banking Committee Republicans sent a letter July 21 chastising SEC Chair Gary Gensler for not responding adequately to their June 15 letter requesting answers to questions and records relating to the SEC’s proposed climate disclosure rule.
Study: Number of S&P 500 Companies Tying Executive Pay to ESG Metrics Climbing
Seventy percent of the S&P 500 companies apply ESG metrics to their executive incentive plans, reports a new study by Semler Brossy.
Annual Equilar Study Finds Significant Boost in CEO Pay in 2021

CEO pay at the 500 largest U.S. companies by revenue increased by 18.9% in 2021, according to the 2022 edition of Equilar’s CEO Pay Trends report.