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A new cop at the SEC
trueWith Mary Jo White now leading the Securities and Exchange Commission, senior executives of investment management firm and officials of fiduciary fund boards as well as compliance professionals alike should recognize the need to step up their game to avoid a potential run-in with the new cop on the ...
Ceres: SEC needs to better enforce climate change disclosure requirements
trueThe Securities and Exchange Commission “is not adequately enforcing” compliance of its requirements for corporations to disclose climate change financial risks, according to a new report by Ceres.
Better way to elect directors
trueIf proxy voting is the principal way shareholders influence corporate governance and the direction of corporations, the rules of the Securities and Exchange Commission fall short in enabling shareholders in contested elections to select the combination of nominees they believe will best foster ...
SEC charges Camelot managing director with stealing $9 million from investors
trueThe SEC on Thursday charged Lawrence E. Penn III, managing director at The Camelot Group, with stealing $9 million from investors in Camelot Acquisitions Secondary Opportunities, a venture capital fund, according to a news release from the Securities and Exchange Commission.
WAMCO reaches settlements with SEC, DOL
trueWestern Asset Management Co. will pay $21 million to settle charges involving internal coding errors and cross trading resulting in some investor losses.
Arbitration threatens to wipe out shareholder rights
trueA new movement would push companies to adopt provisions that could limit shareholders' ability to protect and enforce their rights in courtrooms across the country.
CII urges SEC to allow shareholders to split proxy votes
trueShareholders should have the ability in contested corporate board elections to vote on one ballot for any combination of management and dissident nominees that investors believe will foster long-term shareholder value, according to a Council of Institutional Investors petition Wednesday to the SEC.
SEC names new enforcement chief for complex products
trueMichael Osnato Jr. was named Monday to head the SEC enforcement unit looking into complex financial instruments.
Canellos to leave SEC enforcement post
trueGeorge S. Canellos is leaving the Securities and Exchange Commission later this month as co-director of the enforcement division, a spokesman confirmed.
We're all activists now: unlocking the stewardship potential of investors
trueThe application of suboptimal governance practices and the inadequate oversight of risk can have a significant toll on shareholder returns. The continued difficulties and challenges faced by a number of banking companies, for example, around the world are a timely reminder to investors of the ...
Presumption of company stock
trueThe Department of Labor's intervention seeking a U.S. Supreme Court hearing on the responsibilities of fiduciaries concerning company stock as an investment option in defined contribution plans might lead to better guidance on a long-standing exception to the diversification rules of the Employee ...
Hedge fund managers seek to set themselves apart through branding
trueHedge fund branding is increasing as institutional investors' presence within hedge funds' client bases is forcefully nudging even the most tight-lipped firms to open up and explain what they do.
SEC round table discusses shift in who pays for proxy-voting services
trueMoney managers might need to charge clients for proxy voting to help finance the expense , Michelle Edkins, managing director and global head of corporate governance and responsible investment, BlackRock, said Thursday at the SEC's proxy advisory services round-table webcast.
Holding companies to account
trueMary Jo White, chairwoman of the Securities and Exchange Commission, plans to strengthen its law enforcement, broadening its reach and seeking more admissions of guilt.
Level Global Investors portfolio manager pleads guilty to criminal insider trading charges
trueMark Megalli pleaded guilty on Thursday to one criminal count of conspiracy to commit securities fraud in connection with a “multimillion-dollar insider trading conspiracy” in the stock of children's clothing company Carter's Inc., according to a news release from the Justice Department.