SEC chairman Jay Clayton

SEC chairman Jay Clayton has faced an extraordinary grilling over the fake investor letters he cited in ‘support’ of the regulator’s proxy advisor rule changes – with a prominent US senator telling him he was “duped”. Clayton was finally forced to answer questions about his part in the fake letter scandal during his testimony before […]

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PRI warns CEO

The chief of UN-backed Principles for Responsible Investment (PRI) has lashed out at the SEC and corporate lobby groups for trying to dampen investor rights. In an opinion piece for the FT this week, chief executive of the PRI Fiona Reynolds strongly criticised what she called “powerful countervailing forces” that were attempting to silence shareholders […]

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A major activist group has launched a petition to fight the SEC’s shareholder proposal rules

A major activist group has launched a petition to fight the SEC’s shareholder proposal rules – already securing nearly two-thirds of the 75,000 target signatories. Credo Action, which represents millions of activists around the globe fighting for progressive change, warned the SEC’s amendments to Rule 14a-8 would silence shareholder activism and protect big corporations from the […]

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Pile of astroturf

SEC falls foul of proxy astroturf Did the SEC cite fake letters to support its proxy clampdown? The SEC’s attempts to impose tough new regulations on proxy advisers have taken a sinister turn following revelations its chairman has been citing fake investor letters in ‘support’ of its proposed changes. The Security and Exchange Commission’s (SEC) […]

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SEC’s back to work priorities: proxy plumbing & human capital reporting

A war of words has broken out between investors and the Securities and Exchange Commission (SEC) following the regulator’s controversial proposal to amend its proxy voting rules.  On 5 November, the SEC proposed new changes to how proxy advisory firms operate – with some criticising the move as a way to limit investors’ ability to hold public companies accountable.  Under the proposed changes, proxy advisory firms would […]

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SEC fines PwC over reporting and independence

The regulator found PwC had engaged in ‘improper professional conduct’ by performing prohibited non-audit services and breaching the independence rules in connection with 15 SEC-registered audit clients.

PwC partner Brandon Sprankle, who has been with the firm for over 20 years, has also been charged for causing the firm’s independence violations.

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SEC chairman Jay Clayton

SEC’s Clayton attacks lack of global commitment to combatting corruption The chairman of the US Securities and Exchange Commission (SEC) has launched a blistering attack on his foreign counterparts for failing to tackle offshore corruption. During his speech at the Economic Club of New York on Monday (9 September), Jay Clayton warned there was a […]

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shareholder voting research

New website aims to prevent investor rights erosion With the SEC set to announce new rules on proxy voting this week, a new website has launched for organisations concerned about the erosion of investor rights. A quick browse of InvestorRightsForum.com shows why it deserves some attention. Backed by established names such as the Forum for […]

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SEC’s back to work priorities: proxy plumbing & human capital reporting

SEC outlines planned risk disclosure changes The Securities and Exchange Commission (SEC) is proposing to change its regulations on business, legal proceedings, and risk factor disclosures. The SEC says that the amendments are intended to improve disclosures for investors and to simplify compliance efforts for registrants. Regulation S-K lays out reporting requirements for various SEC filings used […]

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SEC urged to unleash sweeping changes to proxy system

SEC urged to unleash sweeping changes to proxy system As the SEC’s Proxy Plumbing saga rumbles on, the Commission has signalled that public companies, shareholders and other stakeholders in the US may soon get the transparency in the proxy system that many have been demanding. The investor advisory committee to the US Securities and Exchange […]

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