– The White House is reviewing a SEC proposal that would shift corporate reporting requirements to a semiannual basis and away from quarterly reporting, as reported by Bloomberg (paywall).
The plan, submitted to the Office of Management and Budget, must clear this review before the SEC can formally release it for public comment. Commissioners would later vote again on a final version, meaning implementation may still take months.
The proposal aligns with broader efforts by SEC leadership to reduce disclosure burdens and encourage companies to go public by easing reporting demands.
While details of the rule remain limited, the shift away from quarterly reporting has drawn attention as a significant potential change to US market practices. Supporters previously told Governance Intelligence it could lower compliance costs and reduce short-term pressure on companies, while critics warn it may limit transparency for investors.
– The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a new rule to establish a formal whistleblower rewards program aimed at strengthening efforts to combat financial crime.
FinCEN’s proposal, issued as a notice of proposed rulemaking, would create procedures, incentives and protections for individuals who report violations related to money laundering, fraud and sanctions.
Under the plan, eligible whistleblowers could receive awards ranging from 10 to 30 percent of monetary penalties collected in successful enforcement actions brought by Treasury or the Justice Department.
The rule outlines how tips must be submitted, defines eligibility criteria and establishes a process for reviewing and approving payouts. It also includes safeguards to protect whistleblowers from retaliation.
The proposal implements legislation passed in 2020 and expanded in 2022 and is now open for public comment before finalization.
– BP is facing mounting investor pressure ahead of its April 23 annual meeting, as a coalition of proxy advisers, pension funds and activist shareholders challenge the oil major’s climate stance and governance practices.
According to Reuters (paywall), influential advisers including ISS and Glass Lewis have urged investors to vote against key board proposals and the re-election of chair Albert Manifold, criticizing plans to scrap longstanding climate reporting commitments and exclude a shareholder climate resolution.
The opposition comes as activist group Follow This has expanded its campaign, rallying European investors to resist BP’s attempt to drop reporting rules adopted in 2015 and 2019 and pressing for greater disclosure on long-term strategy under declining fossil fuel demand.
BP argues the older requirements are redundant given newer disclosure frameworks, but critics say the moves signal reduced transparency.
The dispute follows wider tensions over BP’s strategic pivot back toward oil and gas, intensifying scrutiny of its climate commitments.
– New York City’s pension funds are pressing Exxon Mobil to overhaul a controversial shareholder voting program, arguing it risks entrenching management influence ahead of the company’s annual meeting.
As reported by Bloomberg, the city comptroller’s office has submitted a shareholder proposal calling for changes to Exxon’s retail voting system, which allows individual investors to automatically align their votes with board recommendations. Critics say the structure encourages ‘robo-voting’ that disproportionately benefits management and limits independent shareholder input.
The pension funds are seeking alternative voting options, including mechanisms that would allow retail investors to systematically vote against management or follow independent policies.
Exxon has said more than 100,000 shareholders have already enrolled in the program, representing over 3 percent of outstanding shares.
– Activist investor Irenic Capital Management has disclosed a roughly 2.5 percent stake in Snapchat’s parent company and is pushing for sweeping strategic changes to boost the social media group’s valuation.
According to The Wall Street Journal (paywall), in a public letter to CEO Evan Spiegel, the fund argued Snap could be worth up to $35 bn if it cuts costs, restructures operations and sharpens its focus on core advertising.
Irenic urged layoffs, reforms to stock-based compensation and increased investment in AI, while calling for the shutdown or divestment of Snap’s lossmaking augmented-reality ‘Specs’ unit.
The campaign also highlighted governance concerns, noting limited shareholder voting power.
Snap said it welcomes investor feedback and is focused on improving efficiency and long-term growth.
– Investors are ramping up pressure on Amazon, Microsoft and Google to disclose more detailed data on the environmental impact of their US data centers, particularly water and energy use.
Reuters reports that more than a dozen shareholders have filed resolutions ahead of annual meetings, calling for site-specific reporting and clearer strategies to meet climate targets as AI-driven infrastructure expands rapidly.
Concerns have intensified following community opposition that has already led to cancellations of several multibillion-dollar projects. Investors say current disclosures are inconsistent, with gaps in how each company reports water consumption and energy usage.
While the companies highlight efficiency improvements and sustainability goals, investors are seeking greater transparency on local impacts and resource management as scrutiny of AI-related infrastructure grows.