Shareholder Rights, ESG Rules Begin Friday
The new rule will permit the use of ESG considerations in exercising of shareholder rights.
Tag: proxy voting
House Republicans Subpoena ESG Advocates
The Judiciary Committee has called the CEO of As You Sow to testify in December.
House Republicans Look to Repeal DOL Rule Permitting ESG in Retirement Plans
As the House of Representatives returned this week, it wasted no time proposing new bills targeting ESG investing.
Congressional Proxy Voting Reforms Include Changes to Adviser Discretion
Among 11 total bills, one would require advisers to either abstain or vote the way their client or the issuer...
Congressional Hearings Scrutinize Proxy Voting
Republicans accused proxy firms of prioritizing ‘woke’ political agenda ahead of financial considerations.
House Republicans Outline ESG Policy Goals
An interim report argued that the US should protect firms from foreign regulators and require more transparency on ESG issues.
Vanguard’s ESG Support Half That of BlackRock, State Street
Of a sample of shareholder proposals linked to ESG, Vanguard opposed almost three-quarters.
Compliance News
Legislative and Judicial Actions
The SEC favors proxy voting advice rule amendments; the PBGC issues final rule implementing the Special Financial Assistance program; appeals...
SEC Votes in Favor of Proxy Voting Advice Rule Amendments
According to a statement from the SEC, the amendments address concerns voiced by investors and industry stakeholders regarding the proxy...
Trends
The Greening of Proxy Voting
ESBA’s rule, making voting more transparent, will call for new adviser services.
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them...
ESG and Shareholder Rights Rule Under White House Review
The language of the regulation has not yet emerged, but the title published by the Department of Labor suggests it will address both ESG and proxy voting matters.
DOL Says It Won’t Enforce Final Rules on ESG and Proxy Voting
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
SEC Chair Gensler’s Confirmation Hearing Displays Parties’ Priorities
Democrats used Gary Gensler’s confirmation hearing to speak to issues of racial and wealth inequality exacerbated by the pandemic—which has...
Publisher’s Note
What a Year!
With so many bigger issues facing the country, much has happened that almost seems unnoticed.
DOL Issues Final Rule on Proxy Voting and Shareholder Rights
The final regulation includes delayed compliance dates to January 31, 2022, for certain recordkeeping and proxy voting requirements.
Compliance Consult
Whether—and How—to Vote Proxies
DOL proposal could complicate this plan-fiduciary job.
Compliance News
Legislative and Judicial Actions
SEC approves shareholder proposal, fiduciaries of Mutual of Omaha plan settle, and more.
SEC Approves Controversial Shareholder Proposal
Negative reactions immediately piled in from concerned stakeholders and consumer advocates who say the proxy voting rule amendments will stifle shareholder engagement.
DOL Proposal Likely to Dampen Proxy Voting, Shareholder Engagement
As with its guidance related to environmental, social and governance investing, the Department of Labor’s stance on proxy voting and other forms of retirement plan investor shareholder rights...