– Reuters reported that ISS said US Foods Holdings shareholders should vote for three of Sachem Head Capital Management’s five director nominees, arguing that the company would benefit from ‘closer board oversight.’
‘The dissident has made a case for change, and the is...
Compliance Archive
The SEC’s planned modernization of beneficial ownership reporting requirements has sparked a variety of feedback, based at least in part on commenters’ stance regarding the value of activism versus the need for companies to have information so they can engage with investors building major stock positions.
The proposal is centered on Securities Exchange Act Sections 13(d) and 13(g). A key element involves proposed changes to Regulation 13D-G that would accelerate...
The SEC in February proposed amendments to Regulation 13D-G to modernize beneficial ownership reporting requirements. Adoption of the amendments as proposed will accelerate the timing – and expand the scope – of knowledge of certain activist activities. The deadline for comments on the proposed rul...
Aside from climate change, the ESG topic that has garnered the most investor attention over the last two years is human capital management (HCM). During that time, the Covid-19 pandemic and global racial justice protests have pushed social issues firmly into the spotlight.
Institutional investors, as well as other stakeholders, have demanded greater assurance that companies are caring for and managing their workforces effectively and respectfully. In response, busin...
– The Wall Street Journal (paywall) reported that Tesla said it will seek shareholder approval at its AGM for an increase in the number of shares of the company to enable a stock split, although it did not specify when such a split would take place or what the ratio of sha...
The IFRS Foundation and GRI are taking the latest step toward a more closely aligned set of global ESG reporting frameworks.
The organizations last week announced an agreement under which their respective standard-setting boards – the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB) – will co-ordinate their work programs and standard-setting activities.
The news came just days after the ...
– Reuters reported that Kohl’s Corp said its board was reviewing multiple preliminary offers from buyers. The company has previously rejected buyout offers from Sycamore and Starboard Value-backed Acacia Research. Kohl’s, which is facing pressure from activist investors to sell itself, said the proposals received are non-binding and without committed financing...
– Reuters reported that Democratic SEC member Allison Herren Lee plans to leave the agency after her term ends in June, but will remain in office until a successor is named. ‘My term as commissioner expires in June of this year, and I have notified President Joe Biden that I intend to step down ...
– The Wall Street Journal (paywall) reported that the Financial Crimes Enforcement Network (FinCEN) is warning financial institutions and cryptocurrency firms to be on the lookout for attempts to evade sanctions and other restrictions imposed as a result of Rus...
Investors in the US must disclose long positions in stocks, but the same transparency has not been required for short sales. That imbalance could be evened up, at least partially, after the SEC proposed a new rule that would require disclosure of short positions on a monthly basis – although some market participants would like the changes to go further.
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