Weekly Roundup: April 15-21, 2022

This roundup contains a collection of the posts published on the Forum during the week of April 15-21, 2022.

A Deconstruction of the Short-Termism Thesis

Posted by Charles Nathan, Finsbury Glover Hering, on Friday, April 15, 2022

Tags: Hedge funds, Investor horizons, Repurchases, Shareholder activism, Short-termism, Takeovers

Remarks by Chair Gensler Before the FBIIC and FSSCC

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Friday, April 15, 2022

Tags: Accountable Capitalism Act, Cybersecurity, Regulation S-P, Risk, Risk disclosure, Securities enforcement, Securities regulation

Ninth Circuit Panel Rejects Claim that Twitter Misled Investors

Posted by Neal A. Potischman, Edmund Polubinski, and Micayla Hardisty, Davis Polk & Wardwell LLP, on Saturday, April 16, 2022

Tags: Cybersecurity, Disclosure, Privacy, Securities enforcement, Securities fraud, Securities litigation, Social networks, Twitter, U.S. federal courts

Developments in Securities Fraud Class Actions Against U.S. Life Sciences Companies

Posted by David H. Kistenbroker, Joni S. Jacobsen, and Angela M. Liu, Dechert LLP, on Saturday, April 16, 2022

Tags: Class actions, Corporate liability, Institutional Investors, Liability standards, Pension funds, Securities fraud, Securities litigation

On the Audit Committee’s Agenda: What’s on the Horizon for 2022

Posted by Maureen Bujno, Krista Parsons and Kimia Clemente, Deloitte LLP, on Sunday, April 17, 2022

Tags: Audit committee, Audits, Boards of Directors, Cybersecurity, ESG, Financial technology, Privacy, Risk, Risk management, Risk oversight

Different Strokes to Move the World

Posted by Martha Carter, Matt Filosa, and Harvey Pitt, Teneo, on Sunday, April 17, 2022

Tags: Climate change, Disclosure, Environmental disclosure, ESG, Materiality, SEC, SEC rulemaking, Securities regulation, Sustainability

Ten Questions to Ask Before Joining a Public Company Board of Directors

Posted by Sara B. Brody and Jason T. Nichol, Sidley Austin LLP, on Monday, April 18, 2022

Tags: Board dynamics, Board performance, Boards of Directors, Director compensation, Indemnification, Management, Risk oversight

Comment Letter on SEC Rule 10B-1 Position Reporting of Large Security-Based Swap Positions

Posted by Robert G. Eccles (University of Oxford) and Shiva Rajgopal (Columbia University), on Monday, April 18, 2022

Tags: Derivatives, Disclosure, ESG, Hedge funds, Index funds, Institutional Investors, Ownership, SEC, Securities regulation, Shareholder activism, Swaps

ESG Pressures Fuel Dealmaking

Posted by Seth Kerschner, Dongho Lee, and Clare Connellan, White & Case LLP, on Tuesday, April 19, 2022

Tags: Climate change, Environmental disclosure, ESG, EU, International governance, Mergers & acquisitions, SPACs, Sustainability

How Useful are Commercial Corporate Governance Ratings in Emerging Markets?

Posted by Burcin Yurtoglu (WHU Otto Beisheim School of Management), on Tuesday, April 19, 2022

Tags: Boards of Directors, Brazil, Disclosure, Emerging markets, India, International governance, Korea, Turkey

Remarks by Commissioner Crenshaw at Symposium on Private Firms

Posted by Caroline Crenshaw, U.S. Securities and Exchange Commission, on Tuesday, April 19, 2022

Tags: Disclosure, Institutional Investors, Investor protection, Private equity, Private firms, Public firms, SEC, Securities regulation

The DCF Valuation Methodology is Untestable

Posted by J.B. Heaton, One Hat Research LLC, on Wednesday, April 20, 2022

Tags: Accounting, Accounting standards, Cash flows, Firm valuation, Investor horizons, Long-Term value, Management

Delegated Gender Diversity

Posted by Hao Liang (Singapore Management University) and Cara Vansteenkiste (UNSW Business School), on Wednesday, April 20, 2022

Tags: Asset management, Board composition, Boards of Directors, Diversity, ESG, Institutional Investors

CEOs and Sustainability

Posted by Kurt Harrison and Emily Meneer, Russell Reynolds Associates, on Wednesday, April 20, 2022

Tags: Climate change, Engagement, ESG, Human capital, Management, Stakeholders, Sustainability

Spotlight on Boards: Spring 2022 Update

Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Thursday, April 21, 2022

Tags: Board dynamics, Board performance, Boards of Directors, Corporate purpose, ESG, Materiality, Risk management, Shareholder activism

Environmental Liabilities, Creditors, and Corporate Pollution: Evidence from the Apex Oil Ruling

Posted by Ross Levine (UC Berkeley), on Thursday, April 21, 2022

Tags: Bankruptcy, Climate change, Corporate liability, Debtor-creditor law, Distressed companies, ESG, Sustainability

The Proposed Private Fund Advisers Rule

Posted by Harvey L. Pitt, Kalorama Partners, LLC, on Thursday, April 21, 2022

Tags: Comment letters, Institutional Investors, Investment advisers, Investor protection, Private equity, Private funds, SEC, SEC rulemaking, Securities regulation