Weekly Roundup: October 29–November 4, 2021

This roundup contains a collection of the posts published on the Forum during the week of October 29–November 4, 2021.

Disrupting the Disruptors? The “Going Public Process” in Transition

Posted by Aswath Damodaran (New York University), on Friday, October 29, 2021

Tags: Capital formation, Direct listings, Disclosure, IPOs, Private equity, Public firms, Securities regulation, SPACs, Venture capital firms

Carbon Zero and the Board

Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Friday, October 29, 2021

Tags: Climate change, Disclosure, Environmental disclosure, ESG, SEC, Securities regulation, Shareholder activism, Sustainability

Racial Equity Audits: A New ESG Initiative

Posted by Ron S. Berenblat and Elizabeth R. Gonzalez-Sussman, Olshan Frome Wolosky LLP, on Saturday, October 30, 2021

Tags: Board composition, Boards of Directors, Diversity, ESG, Human capital, Institutional Investors, Shareholder activism, Shareholder proposals, Shareholder voting

The Current State of Human Capital Disclosure

Posted by Alison Omens, Aleksandra Radeva, and Kavya Vaghul, JUST Capital, on Sunday, October 31, 2021

Tags: Disclosure, ESG, Form 10-K, Human capital, Regulation S-K, SEC, SEC rulemaking, Securities regulation

Common Ownership, Executive Compensation, and Product Market Competition

Posted by Matthew Bloomfield (The Wharton School), Henry L. Friedman (UCLA), and Hwa Young Kim (UCLA), on Monday, November 1, 2021

Tags: Blockholders, Common ownership, Executive Compensation, Incentives, Ownership, Pay for performance

Speech by Commissioner Roisman on Cybersecurity

Posted by Elad L. Roisman, U.S. Securities and Exchange Commission, on Monday, November 1, 2021

Tags: Cybersecurity, Ransomware, Risk, Risk disclosure, Risk management, SEC, SEC enforcement, Securities enforcement, Securities regulation

Speech by Commissioner Peirce on the Future of the SPAC Market

Posted by Hester M. Peirce, U.S. Securities and Exchange Commission, on Monday, November 1, 2021

Tags: Capital formation, Investor protection, IPOs, Mergers & acquisitions, Public firms, SEC, SEC rulemaking, Securities regulation, SPACs, Special purpose vehicles

ISS’ Annual Policy Survey Results

Posted by Shaun Bisman and Han Wen Zhang, Compensation Advisory Partners, on Tuesday, November 2, 2021

Tags: ESG, Institutional Investors, Institutional Shareholder Services Inc., Long-Term value, Pay for performance, Proxy advisors, Proxy voting, Surveys

The State of U.S. Sustainability Reporting

Posted by Matt Filosa, Faten Alqaseer, and Morgan McGovern, Teneo, on Tuesday, November 2, 2021

Tags: Board communication, Disclosure, Diversity, Engagement, Environmental disclosure, ESG, Human capital, Materiality, Stakeholders

Lucian Bebchuk and the Study of Corporate Governance

Posted by Kobi Kastiel (Tel Aviv University), on Tuesday, November 2, 2021

Tags: Corporate governance, Lucian Bebchuk

SEC Reopens Comment Period for Dodd-Frank Clawback Rule

Posted by Ning Chiu, Joseph A. Hall and Kyoko Takahashi Lin, Davis Polk & Wardwell LLP, on Wednesday, November 3, 2021

Tags: Clawbacks, Dodd-Frank Act, Executive Compensation, Restatements, SEC, SEC enforcement, SEC rulemaking, Securities enforcement, Securities regulation

Endogenous Choice of Stakes Under Common Ownership

Posted by Scott Hemphill and Marcel Kahan (NYU), on Wednesday, November 3, 2021

Tags: Antitrust, Asset management, Common ownership, Index funds, Institutional Investors, Ownership, Ownership structure

Remarks by Chair Gensler Before the SIFMA Annual Meeting

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Wednesday, November 3, 2021

Tags: Broker-dealers, Capital markets, Derivatives, Engagement, Investor protection, SEC, SEC rulemaking, Securities regulation, Swaps, Systemic risk

Mandating Disclosure of Climate-Related Financial Risk

Posted by Alexander T. Song (NYU), on Thursday, November 4, 2021

Tags: Climate change, Disclosure, Environmental disclosure, ESG, Risk disclosure, SASB, SEC, Securities regulation, Sustainability

Statement by Commissioners Peirce and Roisman on Shareholder Proposals

Posted by Hester M. Peirce and Elad L. Roisman, U.S. Securities and Exchange Commission, on Thursday, November 4, 2021

Tags: Climate change, ESG, No-action letters, Rule 14a-8, Say on climate, SEC, SEC rulemaking, Securities regulation, Shareholder proposals, Shareholder voting

Remarks by Chair Gensler Before the Asset Management Advisory Committee

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Thursday, November 4, 2021

Tags: Asset management, Disclosure, ESG, Financial technology, Form ADV, Institutional Investors, Investment advisers, Private funds, Securities regulation, Sustainability