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ESG Considerations for Investment Managers and a Review of Current ESG Standards and Frameworks

The environmental, social, and governance (ESG) landscape is being shaped by the establishment of various ESG standards and frameworks (summarized and compared herein), many of which have been adopted on a voluntary basis by...more

The SEC Staff Takes On ESG Investing

In the US Securities and Exchange Commission staff’s most recent guidance addressing environmental, social, and governance (ESG) investing, the staff of the Division of Examinations released an April 9 Risk Alert noting...more

Nasdaq Proposes New Board Diversity Composition and Disclosure Requirements

The Nasdaq Stock Market (Nasdaq) announced that it had submitted a proposal to the US Securities and Exchange Commission (SEC) seeking approval of new listing rules to advance board diversity and increase transparency to...more

SEC Adopts Amendments to Modernize and Enhance Management’s Discussion and Analysis and Other Financial Disclosures

The US Securities and Exchange Commission (SEC) announced that it voted on November 19, 2020 to adopt rules to modernize, simplify, and enhance certain financial disclosures required of public companies under Regulation S-K. ...more

ISS Announces 2021 Benchmark Policy Updates

Institutional Shareholder Services (ISS) on November 12 released updates to its benchmark proxy voting policies, which will apply for shareholder meetings taking place on or after February 1, 2021. ...more

COVID-19 Market Volatility: The NYSE Suspends Minimum Share Price and Market Capitalization Continued Listing Requirements

The New York Stock Exchange LLC (NYSE) has temporarily suspended its continued listing standards requiring (i) a market capitalization and stockholders’ equity of at least $50 million each, and (ii) a $1 minimum trading price...more

COVID-19: SEC Division of Corporation Finance Issues Guidance on Annual Meetings

The staff of the Securities and Exchange Commission’s Division of Corporation Finance on March 13 issued guidance designed to assist companies in complying with federal proxy rules in light of the coronavirus (COVID-19)...more

Delaware Court Signals Significant Change in Standard of Review of Executive Compensation Decisions for Controlled Companies

In a case of first impression, the Delaware Court of Chancery has held that the entire fairness standard of review applies to compensation decisions made with respect to controlled companies, absent implementation of...more

Division of Corporation Finance Issues New Staff Bulletin

Corp Fin provides additional guidance on the application of the “economic relevance” and “ordinary business” exclusions to no-action requests submitted under Rule 14a-8....more

SEC Amends Rule 701, Issues Concept Release on Modernizing Employee Offerings

The US Securities and Exchange Commission’s new Rule 701 and concept release may ease a new generation of companies’ ability to offer and issue equity-based compensation, and question the appropriateness and continued utility...more

Division of Corporation Finance Issues New Proxy Guidance

Updated for the first time in more than a decade, the new guidance for proxy rules and statements provides significant changes to certain disclosure requirements in the context of proxy solicitations....more

SEC Approves New PCAOB Standard on Enhanced Audit Reports

New requirements represent sweeping changes to the form and content of reports. The Securities and Exchange Commission (SEC) approved a new Public Company Accounting Oversight Board (PCAOB) auditing standard on October 23...more

SEC Reproposes Rules for Resource Extraction Issuers

The Proposed Rules call for enhanced disclosures by companies in the oil, natural gas, and mining industries. On December 11, the Securities and Exchange Commission (SEC or the Commission) reproposed rules (the Proposed...more

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