Pensions & Investments
Gary Retelny said ISS works ‘extremely hard’ to mitigate any potential conflicts of interest. Sally Montana Powerful institutions in Washington are taking a renewed look...
Activist Investing Today
The general counsel of the corporate-backed American Council for Capital Formation, spoke to the Activist Investing Today podcast about two new studies the group...
Numerous Asset Managers Voting in Lockstep with Proxy Advisor Recommendations
Proxy-advisory firms, under scrutiny in Washington over the weight given to their corporate-policy guidance, aren't giving companies enough time to respond to voting recommendations...
Investors are voting on expensive shareholder proposals designed to tackle global warming without understanding the negative effect such measures have on their investments, according...
CalPERS is considered underfunded because its assets are worth about 71 percent of what it owes in promised benefits to retirees and public employees. Some cities, including Corona, have complained that rising pension costs are inhibiting their ability to fund other services.
“The SEC’s rules governing the proxy process are at the center of investor participation in the corporate governance of public companies. The decision to hold a roundtable to gather stakeholder input is an strong signal that the commission is serious about ensuring the concerns of investors are appropriately represented,” said Tim Doyle, General Counsel and Vice President of Policy at the American Council for Capital Formation.
Real Clear Policy
The Securities and Exchange Commission (SEC) should be commended for its decision last week to rescind two previously issued guidance letters that had allowed third-party firms known as “proxy advisors” to wield undue influence over the shareholder proposal process.
Wall Street Journal
A Wall Street Journal editorial examines recent SEC guidance efforts in the role of proxy advisors. BlackRock Vice Chairman Barbara Novice responds in a letter to the editor.
The withdrawal of the SEC letters could help the bill’s supporters achieve their goals without Congress. “It’s a great first step toward genuine reform of the way these proxy advisory firms have exerted their influence over corporate governance matters,” said Tim Doyle, vice president and general counsel of American Council for Capital Formation, which supports the bill.
The Financial Times
Agencies that judge companies according to their environmental, social and governance metrics suffer from wildly diverging standards and “inherent biases”, according to a report by the American Council for Capital Formation.
Pensions & Investments
The American Council for Capital Formation is questioning the ratings process used for ESG investments.
ACCF Executive Vice President George David Banks recently sat down with @markets to discuss proxy advisory firms and the disconnect between big money managers...
Former White House senior official George David Banks to serve as Executive Director
In the world of corporate governance, proxy advisory firms like ISS (Institutional Shareholder Services) and Glass Lewis have become increasingly important. Their role advising...
On May 9, ACCF Vice President of Policy and General Counsel Timothy Doyle participated on a Capitol Hill panel sponsored by the Savings and Retirement Foundation: “The Impact of ESG Investments on Retirement Wealth.”
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