Archive
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NYSE targets change in board diversity with elite networking program
High-profile CEOs back campaign to identify board-ready diverse candidates When Betty Liu joined the NYSE in July 2018, she hit the road. In her newly created role as executive vice chairman of the exchange and chief experience officer of parent company Intercontinental Exchange (ICE), she wanted to talk to CEOs of NYSE-listed companies about the value-adds the exchange could provide. During these initial meetings, diversity and board composition emerged as common themes. The CEOs she spoke to ‘had had no issues with wanting to make their boards more diverse; the issue was how to find the right candidates,’ Liu says.…
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CII frustrated in seeking SEC proxy adviser data
Investor group has filed so-far unsuccessful FOIA request The Council of Institutional Investors (CII) is finding itself frustrated in its efforts to obtain SEC information about alleged errors committed by proxy advisory firms that is being used to help support proposed regulation of those firms. The investor group in November filed a Freedom of Information Act (FOIA) request seeking the information at issue. Then on December 31 it appealed for dispute resolution services ‘with regard to the lack of response to the… request, which we interpret as constructive denial of the request.’ According to CII executive director Ken Bertsch, the…
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US regulatory environment has ‘shifted dramatically’ on ESG, say legal experts
SEC action on ESG topics proves contentious talking point at ESG Integration Forum and SASB Symposium As the SEC considers how issuers should report on certain material ESG issues and the House of Representatives waits to discuss a proposed ESG reporting bill, a leading corporate governance lawyer says the regulatory environment has ‘shifted dramatically’ on ESG. Speaking to Corporate Secretary and sister publicationIR Magazine at the ESG Integration Forum last month, Gillian Emmett Moldowan, partner at Shearman & Sterling, cited the SEC’s recent proposed changes to Regulation SK as a notable example of the turning tide on ESG regulations. The…
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Halliburton hires new general counsel
Van Beckwith previously chaired Baker Botts’ litigation department Karyn Temple will join the Motion Picture Association (MPA) on January 13 as senior executive vice president and global general counsel, reporting to chair and CEO Charles Rivkin. Temple, whom the association describes as ‘one of the world’s leading authorities on copyright’, previously spent more than eight years at the US Copyright Office (USCO), most recently as the register of copyrights. In that role she administered US copyright law and advised members of Congress, federal courts and executive branch agencies on copyright law and policy. She testified a number of times before…
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MPA appoints top attorney
Karyn Temple to join Motion Picture Association from US Copyright Office Houston, Texas-based Halliburton Company has hired Van Beckwith to take up the position of senior vice president and general counsel, effective January 1, 2020. Beckwith was previously chair of the litigation department at Baker Botts and a member of the law firm’s executive committee. Halliburton has been a long-time client of Baker Botts, where Beckwith had worked for almost 30 years, running a national trial practice for many of Baker Botts’ key clients while also holding a range of leadership roles. Beckwith’s appointment at the energy industry service provider…
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How AT&T produces 20 ESG mini-reports
Telecoms company factors in questions from ESG data providers when determining what to report on AT&T’s ESG reporting team takes a two-fold approach to managing relationships with ESG data providers, by actively engaging with analysts and producing 20 topic-specific ESG reports. Several issuers expressed concerns about the accuracy of third-party ESG data at last month’s ESG Integration Forum, but Ben Kruse, director of global CSR reporting and insights at AT&T, explained that his team creates short topic-specific reports based on questions tasked by the likes of RobecoSAM, MSCI and Sustainalytics. These one to two-page reports supplement the 30 to 40-page…
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The week in GRC: SEC proposes auditor independence changes, and recession fears lead CEOs’ concerns
This week’s governance, compliance and risk-management stories from around the web — The SEC proposed amendments to its auditor independence framework. The proposed changes are designed to mean that relationships and services that would not pose threats to an auditor’s objectivity and impartiality do not trigger non-substantive rule breaches or potentially time-consuming audit committee review of non-substantive matters. ‘The proposal is consistent with the commission’s long-recognized view that an audit by an objective, impartial and skilled professional enhances both investor protection and market integrity, and, in turn, facilitates capital formation,’ SEC chair Jay Clayton said in a statement. ‘In practice,…
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How SASB aims to keep its standards relevant
The standards-setting body has taken steps to update its guidelines when topics – like human capital management – emerge The Sustainability Accounting Standards Board (SASB) has reportedly seen the number of companies using its standards double since late 2018. Its lead analyst caught up with IR Magazine and Corporate Secretary to outline how the group will keep its guidelines up to date. Speaking at the ESG Integration Forum – US 2019, Anton Gorodniuk outlined the two committees – the standards advisory group and the standards board – that SASB regularly solicits feedback from. ‘Of course, the market is ever-evolving and…
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Off-season engagement continues to rise, says ESG adviser
Communication, engagement and collaboration are central to an effective investor-facing ESG program, says Morrow Sodali’s Daniel Oh The number of requests that institutional investors receive for meetings outside of proxy season continues to rise, as IR, legal and sustainability teams are encouraged to work together on off-season ESG engagement. Speaking to IR Magazine and Corporate Secretary at the ESG Integration Forum – US 2019 in December, Daniel Oh said the institutional investors he talked to in December were receiving unprecedented levels of issuer outreach before the holidays. Oh, who recently joined Morrow Sodali as its managing director of corporate governance,…