USA Archives

US investors, companies back Paris climate change agreement

Climate change targets and a commitment to support the United Nations-led Paris Agreement have been agreed by US companies and investors at a press conference at the UN’s COP 22 Climate Change meeting in Marrakesh, Morocco. Signatories want to send …

SEC proposes universal proxy cards

In a move to improve shareholder democracy the US Securities and Exchange Commission (SEC) has proposed that universal proxy cards be introduced that allow investors to vote for directors as they would if they attended the company’s annual general meeting. …

Wells Fargo’s Stumpf resigns as shareholders re-state demand for reforms

John Stumpf, the chairman and chief Executive (CEO) of troubled US bank Wells Fargo, has quit following admissions of fraudulent activities, including the opening of customer accounts without permission. Stumpf’s replacement as CEO is Tim Sloan, the company’s president …

US Council of Institutional Investors speaks out against regressive “Choice” Act

The US Council of Institutional of Investors (CII) has written to the House of Representatives’ Financial Services Committee objecting to a number of proposals in its Financial CHOICE Act – which has now been approved by committee.

This proposed law …

US business leaders call for backing of “common sense corporate governance principles”

A group of 13 US and Canadian fund managers, pension funds and company bosses have taken the unprecedented step of endorsing a set of corporate governance principles in a bid to quell rising unease and conflict around US governance standards.…

Prominent ESG investor objects to US legislators’ plans to curb proxy advisers

Walden Asset Management has added its voice to those criticising the proposed Corporate Governance Reform and Transparency Act of 2016 (HR 5311) passed last month by the US House of Representatives’ Finance Services Committee.

In a letter to Jeb Hensarling …

US investors and companies are engaging more and seeing value in corporate governance

Institutional investors in the US are increasingly viewing corporate governance as more than just a compliance exercise but also about an ownership responsibility tied to investment value and risk mitigation, according to Ernst & Young’s (EY) analysis of the 2016 …

Volkswagen settles with US authorities and diesel car owners

German car manufacturer Volkswagen (VW), which last year admitted to falsifying emissions data in its diesel cars around the world, has reached a $10.03 billion settlement with US authorities and former and current diesel car owners.

If approved by US …

US falling behind on sustainability reporting says SEC chair White

Sustainability reporting in the US needs improvement according to the chair of its Security and Exchange Commission, Mary Jo White, in her key note address at the International Corporate Governance Network conference that took place in San Francisco this week.…

Global investors condemn US attempt to undermine voting decisions

Moves to regulate proxy research would undermine relationships with shareholders, compromise research integrity and eliminate competition say global investors.

Proposed regulation contradicts moves to improve objectivity in sell-side space.

The US House of Representatives’ Finance Services Committee last week …