Regulation Archive

The UK’s International Regulatory Strategy Group (IRSG) is calling for the ESG ratings industry to be regulated, citing concerns around transparency, a lack of consistency in the data and lack of clarity for investors. ‘ESG and sustainability are becoming increasingly central to investment decisions around the world,’ says Kay Swinburne, IRSG council chair, in the new report titled: ...

What happens when a company’s case goes to the Supreme Court? How does it influence stock and options prices? And do investors price their anticipation of the outcome into these markets? While cases surrounding public companies often do not make it to the Supreme Court, it is well understood that those that do must be important, such as Apple’s antitrust case (Apple vs Pepper), eBay vs MercExchange, Mobil Oil vs Federal Power Commission, Walmart vs Dukes and Mic...

The UK’s Wholesale Market Review and the EU’s consultation on Mifid II’s Regulatory Technical Standards are both under way following Brexit. What do IROs need to know about the upcoming changes? Generally, market liquidity has declined over the last 10 years, and there is a danger that the demerger of the UK/EU liquidity pool will make things worse, in a kind of Balkanization process. Generally, we anticipate that IR staff will start to repor...

The SEC’s division of corporation finance has updated its guidance on the process whereby companies seek permission to exclude shareholder proposals, potentially opening the door for more ESG-related measures to end up on proxy statements in 2022 and beyond. The division on November 3 issued a notice that it is rescinding three staff legal bulletins – ...