Regulation Archive

Jul 17, 2020
Investor groups urge SEC to help improve virtual AGMs
A coalition of major investor groups has called on the SEC to take action to avoid a repeat of what it says was a proxy season dominated by virtual AGMs that were a ‘poor substitute’ for the usual in-person events. Health and safety considerations arising from the Covid-19 pandemic have led most US companies to switch to a virtual format for this year’s shareholder meeting. In a ...
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Jun 26, 2020
Short-sellers need more transparency, says former SEC commissioner
Former SEC commissioner Robert Jackson says he is troubled by the ‘increasing evidence of manipulation through short-selling’, and calls on his former colleagues at the SEC to consider a proposal for greater transparency for short-sellers. Speaking earlier this week at Fraud Fest – an event organized by UC Berkeley School of Law – Jackson acknowledged that short-sellers cause animated debate, which can cloud decisions about how they should be treated by regu...
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Jun 19, 2020
The week in investor relations: Sustainable funds, volatility and cash levels
– The Financial Times (paywall) reported that six out of 10 sustainable funds outperformed their conventional fund equivalents over the last 10 years. The study was conducted by Morningstar and used a sample of 745 sustainable funds based in Europe. – The disruption to traditional AGMs caused by Covid-19 could be a starting point for reform of the shareholder meeting, noted th...
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Mar 25, 2020
SEC enforcers warn directors about insider trading amid Covid-19
The SEC’s top enforcers have warned directors and executives against taking advantage of developments arising from the Covid-19 pandemic to engage in insider trading. Stephanie Avakian and Steven Peikin, co-directors of the SEC’s division of enforcement, in a statement on Monday emphasized the need to follow corporate controls and procedures during this period. ‘[I]n these dynamic circumstances, corporate insiders are regularly learning new material non...
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Mar 17, 2020
SEC grants proxy meeting flexibility with new guidance
The SEC will allow companies to postpone their annual meetings, change the location or, in some cases, host a virtual shareholder meeting if an in-person meeting cannot go ahead.  The regulator released new guidance on March 13 that gives greater flexibility to issuers as they grapple with the effects of Covid-19. If a company intends to change the date or location of its meeting, it should include a con...
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Mar 12, 2020
UK regulator to push companies on climate-risk reporting
The UK’s Financial Conduct Authority (FCA) is looking to strengthen regulation on climate-risk reporting for premium-listed companies, with a potential for expansion to all UK issuers.  The FCA proposes requiring premium-listed companies to report on climate risk using the Task Force on Climate-related Disclosures’ (TCFD) guidelines, or to explain why they’re not using the framework, according to a statement issued by the regulator on March 6. It...
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