Companies could be delisted if they fail to meet ‘comply or explain’ requirement The Council of Institutional Investors (CII) has thrown its weight behind Nasdaq’s proposal that would require companies to disclose board diversity or potentially face delisting. In a letter filed with the Securities Exchange Commission on 30 December, the non-profit association of US […]
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Chinese companies face US stock exchange delisting US lawmakers are ramping up pressure on Beijing’s oversight regime Congress has passed legislation that could result in Chinese companies being delisted from US stock exchanges if they do not comply with accounting rules. The House of Representatives approved the bill in early December after it was passed […]
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Nasdaq proposes diversity disclosure for listed companies The stock exchange group wants companies to disclose diversity data and impose minimum representation requirements Nasdaq has filed a proposal with the US Securities and Exchange Commission (SEC) that, if approved, would require all companies listed on Nasdaq’s US exchange to disclose board diversity or face delisting. The rules would require most Nasdaq-listed companies to have […]
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SEC lambasted over shareholder rights change as companies fail to meet ESG targets The US Securities and Exchange Commission (SEC) has come under fire from investor groups after it voted to adopt amendments to its shareholder proposal rules. In what is being seen by investors as a major blow for corporate transparency and shareholder democracy, the SEC […]
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SEC commissioner Elad Roisman, one of the four leading officials at the US regulator, has called for ESG labelling from fund groups to be made clearer. However, at the same time Roisman is wary about more “prescriptive” ESG disclosure requirements being introduced for listed companies. Giving the keynote speech at the Society of Corporate Governance’s virtual national conference, Roisman said asset managers […]
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Investors ask SEC to intervene on Covid disclosures A group of investors have called on the Securities and Exchange Commission to force companies to disclose how the Covid-19 pandemic has affected their business operations. Representatives from 98 asset owners, fund managers, public interest groups, lawyers and trade unions, have asked the SEC to consider new […]
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SEC committee to policymakers: Revise ESG rules or be left behind The US risks falling further behind the UK and Europe unless rules governing reporting requirements for issuers around environmental, social and governance factors are updated. That was the conclusion from the Securities and Exchange Commission’s investor advisory committee, which issued a recommendation that issuer […]
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“Exploitative” Chinese companies face new battle to list in US Chinese companies looking to list on US exchanges are set to face tougher scrutiny, thanks to moves to protect investors by Senators and a homegrown accounting scandal. On Wednesday (May 20), the US Senate passed the Holding Foreign Companies Accountable Act by unanimous consent. The […]
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The Securities and Exchanges Commission (SEC) has shelved proposals that would have limited the power of shareholder advisory firms in corporate decision making. The SEC is scrapping a portion of its proposal that would have forced proxy advisers to submit their voting recommendations to companies for checking before distributing them to investors in advance of […]
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Senator presses SEC’s Clayton over “Main St” letters report
A US Senator has called on the head of the US financial regulator to provide an update on the status of its reports into “apparently fraudulent comment letters” that showed support for proposed new rules on proxy advice. In a letter addressed to Securities and Exchange Commission (SEC) Chairman Jay Clayton, Senator Chris Van Hollen […]
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