Tag: SEC
New SEC guidance increases pressure on proxy advisers over disclosures
US financial watchdog warns that investment firms using proxy advisers must “ensure the use of advice is consistent with their fiduciary duties”.
Battle for the future of proxy advisers
The US is witnessing a fraught debate over the role of proxy advisers, including efforts to introduce new regulation. The debate continues this week at a Securities and Exchange Commission roundtable.
Elon Musk drops Tesla chairman role; and IG CEO leaves board
Elon Musk steps down from Tesla’s chairman role after an SEC settlement; and long-serving IG CEO Peter Hetherington leaves the board.
SEC accused of ‘discouraging’ executive whistleblowers
Proposals to reform whistleblowing policy in the US has met with criticism that it will focus rewards on low-ranking employees in smaller businesses, rather than big banks and large corporates.
Investor ire sees Sir Mick Davis’s Rio Tinto chairmanship plan shelved
Rio Tinto backtracks on plan to appoint Sir Mick Davis as chairman, after an influential group representing a large tranche of shareholders expresses concern.
Conservative Party CEO lined up for mining return with Rio Tinto
Sir Mick Davis, who was a key figure in Xstrata’s merger with Glencore, could return to the fray as Rio Tinto chairman, according to reports.
SEC approves enhanced auditor reporting and communication
The US markets regulator approves new standards, which will see auditors reveal their tenure with an organisation and more detail in their audit report.
US watchdog raises hurdle for shareholder votes
Guidance from the US financial watchdog widens the use of a rule which allows companies to exclude shareholder proposals, potentially making it easier for companies to resist votes on social or ethical grounds.
Ex-Rio Tinto CEO and CFO charged with fraud over ‘inflated’ asset values
Thomas Albanese, Guy Elliott and Rio Tinto face a civil charge of fraud by the SEC over alleged failure to inform markets of plummeting asset values. Elliott also quits the Royal Dutch Shell board.
Legal & General to vote against all-male US boards
Fund manager takes aim at US companies that have failed to appoint women to their boards.