News
-
AT&T’s NYC settlement reignites DEI and ESG issues in corporate boardrooms
AT&T’s settlement with New York City pension funds over a blocked workforce diversity proposal is poised to reshape how companies approach DEI and ESG disclosures On the latest episode of the Governance Matters podcast, senior reporter Natalie Bannermanruns down the latest stories from across the GRC space. Top of mind right now is the SEC’s director for the Division of Enforcement setting a ‘back to basics’ approach to enforcement policy. We also discuss SEC chairman Paul Atkins sharing his thoughts on why ‘woke priorities’ are slowing IPOs and capital markets, plus the Delaware Supreme Court’s reversal in the Moelis& Company…
-
People moves: Unilever welcomes new CLO and group company secretary as Rumble appoints Maurice Edelson
Plus DeFi Technologies, Bristow Group and Flotek Industries expand their governance teams Unilever has named Prakash Kakkadas its new chief legal officer and group company secretary, succeeding Maria Varsellona who exited the role at the start of the month. Before his appointment, Prakash was Unilever’s general counsel, corporate and deputy group secretary. Prior to joining the company, he held senior governance and legal roles at BHP Group and Barclays. He began his career at Herbert Smith Freehills Kramer LLP. Over at online video-sharing platform Rumble, Maurice Edelson has been appointed as the company’s new general counsel and corporate secretary. Edelson…
-
New SEC guidance expands tax-efficient options around mutual funds and ETFs for US investors
The SEC’s approval of ETF share classes for mutual funds signals a major shift in US capital markets In January, the SEC under chairman Paul Atkins approved a major change allowing traditional mutual funds to offer ETF share classes, a shift that could reduce capital gains tax burdens for millions of US investors and reshape participation in the capital markets. The SEC’s move to modernize fund structures enables investors to switch between the two without triggering immediate capital gains taxes that typically arise when mutual fund shares are sold to meet redemptions. According to Atkins’ op-ed in the Washington Post,…
-
Modernizing transfer, custody and exchange operations: a digital reckoning for the capital markets
In a concentrated market, a shift to real-time, digitally native processes may create a potent opening for innovation – Global investment management companyVanguard has reached a settlement agreement with the state of Texas. As reported by The Financial Times (paywall), the Lone Star State’s authorities had accused Vanguard and other large US fund managers of conspiring to curb coal-related investments as part of ESG strategies, alleging anti-competitive conduct and urging the state to divest public funds from firms perceived as hostile to fossil fuels. The case was brought by Texas Attorney General Ken Paxton against BlackRock, State Street and Vanguard.…
-
The week in GRC: Vanguard reaches settlement with Texas as the SEC extends windows for enforcement responses
This week’s governance, compliance and risk-management stories from around the web Capital markets digitized trading decades ago, but the infrastructure governing ownership, voting and settlement still belongs to an earlier era. Now, pressure from issuers, investors and regulators is forcing a deeper overhaul across transfer agency, custody and exchange operations. Real-time share registries, automated compliance, AI-driven investor services and blockchain-based voting are moving from the realm of the conceptual to the actual, even as institutions navigate complex regulatory and operational constraints. Legacy architecture under strain David Yermack, professor of finance at the New York University Stern School of Business and…
-
SEC’s new cyber-security rules put boards on the hook
The SEC’s amendments to Regulation S-P, now in effect and requiring compliance by June 2026, elevate cyber-security from an operational concern to a board-level accountability issue The SEC’s new cyber-security disclosure rules hold boards personally accountable for cyber oversight, intensifying scrutiny and liability across public companies and registered entities. The amendments, effective in 2025 with a compliance deadline of June 3, 2026, expand obligations under Regulation S-P and reshape how firms govern, document and disclose cyber risk. Adopted in 2024 and now in force, the changes modernize safeguards for customer information and tighten incident response requirements as part of a…
-
People moves: American Water promotes Jeffrey Taylor to SVP legal role
Plus Baxter International, Viper Energy and Charles River Laboratories grow their legal teams American Water Works Company has promotedJeffrey Taylor to the role of SVP, chief SEC counsel and secretary. Confirmed in a LinkedIn post, Taylor previously served as VP, chief SEC counsel and secretary, a role he has held since February 2021. Before that he was chief SEC & corporate governance counsel and assistant secretary, having joined American Water in 2015. Taylor has also held tenures at the likes of Blank Rome LLP, Sutherland Asbill & Brennan LLP and Gunster Yoakley. Over at medical tech company Baxter International, Courtney…
-
US boards answer to all shareholders, not just the loudest ones
ESG isn’t a belief system. It’s how risk shows up in financials There is a growing habit – mostly American, often loud – of treating ESG as a single cultural package: climate,DEIand whatever social flashpoint dominates the cycle. It makes for sharp copy. It is also a category error in the markets where stewardship decisions are actually made. In the UK and EU, ESG is regulated process: rules, disclosures and supervisory expectations designed to surface financially material sustainability risks. Think less ‘cause’, more ‘cash flow’. Across the UK and Europe,faith-based investinghas long been expressed through formal, responsible-investment practice rather than…
-
The week in GRC: SEC chairman Atkins outlines plans for executive compensation as AT&T sued by NY pension funds
This week’s governance, compliance and risk-management stories from around the web – At a Texas A&M corporate law symposium, SEC chairman Paul Atkins outlined his vision for revitalizing US capital markets and modernizing federal securities regulation. Speaking at the Federal Reserve Bank of Dallas, Atkins emphasized the importance of state competition in corporate law, noting Texas’s recent legislative reforms aimed at deterring ‘abusive litigation’ and enhancing shareholder protections as potential alternatives to Delaware’s long-standing dominance. He argued that such state-level legal innovation can attract companies seeking less politicized governance frameworks. During the speech, Atkins also said the SEC is considering…
-
Back to basics: New director Margaret Ryan resets SEC enforcement priorities
The Division of Enforcement is refocusing its direction, aligning closely with chairman Atkins’ ‘back to basics’ regulatory approach When SEC director of the Division of Enforcement Margaret Ryan addressed the Los Angeles County Bar Association last week, her remarks gave a clear indication of how the SEC’s enforcement arm intends to operate under her leadership and under the broader direction of chairman Paul Atkins. Ryan, who assumed the role in September 2025, confirmed that enforcement priorities remain rooted in the enforcement of federal securities laws, but revealed a renewed focus on resource constraints and a change in philosophical approach at…