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Program on Corporate Governance Advisory Board
- Peter Atkins
- David Bell
- Kerry E. Berchem
- Richard Brand
- Daniel Burch
- Paul Choi
- Jesse Cohn
- Arthur B. Crozier
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino
- Steven J. Williams
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
CFTC Identifies Climate-Related Financial Risks and Urges Action
On September 9, 2020, the Climate-Related Market Risk Subcommittee of the U.S. Commodity Futures Trading Commission published a report, Managing Climate Risk in the U.S. Financial System, describing the links between climate change and the U.S. financial system. The Report was largely the product of efforts from its sponsor, CFTC Commissioner Rostin Benham, but was […]
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Posted in Accounting & Disclosure, ESG, Practitioner Publications
Tagged CFTC, Climate change, Environmental disclosure, ESG, Risk, Risk oversight, Sustainability, Systemic risk
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Some Thoughts on the Business Roundtable’s Statement of Corporate Purpose
From time to time in the last 150 years, a socialist impulse has taken hold among a significant segment of the U.S. population. This impulse was a primary driver behind the 1880s populists’ movement and among progressives in the 1910s. It was dominant ideology among socialists in the 1930s and among young radicals and intellectuals […]
Click here to read the complete postThe Department of Justice as a Gatekeeper in Whistleblower-Initiated Corporate Fraud Enforcement: Drivers and Consequences
Regulatory agencies in the United States rely on the assistance of whistleblowers to detect corporate fraud. The Department of Justice (DOJ) acts as a gatekeeper, evaluating whistleblower allegations to separate legitimate from frivolous cases. Despite its pivotal role in corporate fraud enforcement, there is sparse evidence on how the DOJ exercises its gatekeeping authority. Also, […]
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Posted in Academic Research, Comparative Corporate Governance & Regulation, Empirical Research, Securities Litigation & Enforcement
Tagged Civil procedure, DOJ, False Claims Act, Fraud Enforcement and Recovery Act, Private enforcement, Public enforcement, Securities enforcement, Securities fraud, Whistleblowers
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Board Practices Quarterly: Diversity, Equity, and Inclusion
The landmark events of 2020 surrounding systemic racism and racial equality have led many companies and their boards to consider their practices related to diversity, equity, and inclusion (DEI). For some, the events present an opportunity to reevaluate and enhance current practices; for others, they may prompt the exploration and implementation of actions and practices […]
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Posted in Accounting & Disclosure, Boards of Directors, ESG, Practitioner Publications
Tagged Board composition, Boards of Directors, Disclosure, Diversity, ESG, Management, Surveys
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On the SEC’s 2010 Enforcement Cooperation Program
Leniency programs can be powerful enforcement tools. For example, the Department of Justice’s Antitrust Leniency Program has been successful in cracking down on cartel activities since 1993. By encouraging violators’ self-reporting and voluntary remediation, regulators can conserve valuable resources and rectify more misconduct than they otherwise would. However, the Securities and Exchange Commission’s (SEC’s) leniency program, which began […]
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Posted in Academic Research, Accounting & Disclosure, Securities Litigation & Enforcement, Securities Regulation
Tagged Deferred prosecution agreements, Management, Misconduct, SEC, SEC enforcement, Securities enforcement, Securities fraud, Securities regulation
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Maintaining Investor Trust: Independent Oversight in the System of Quality Control
“You can’t really know where you are going until you know where you have been.” Thank you, John [Parsons], for the kind introduction. It is a pleasure to have an opportunity to speak to a group of professionals dedicated to protecting the well-being of our teachers, firefighters, policemen, and other local and state workers. It’s […]
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Posted in Accounting & Disclosure, Practitioner Publications, Speeches & Testimony
Tagged Audits, Compliance and disclosure interpretation, Disclosure, External auditors, PCAOB, Stakeholders
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Cross-Border Venture Capital, Technology Flows, and National Security
One of the most contentious issues in public policy regarding U.S. entrepreneurship over the past four years has been the treatment of foreign investors. The military community has highlighted the extent of foreign venture investments in Silicon Valley, particularly from Chinese corporations, individuals, and financial institutions. These analysts have also emphasized that these investments are […]
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Posted in Academic Research, Comparative Corporate Governance & Regulation, Empirical Research, International Corporate Governance & Regulation
Tagged Capital formation, CFIUS, Innovation, International governance, Tech companies, Venture capital firms
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SEC Amends Rules for Whistleblower Program
On September 23, 2020, the SEC voted (by a vote of three to two) to adopt amendments to the rules related to its whistleblower program. The program provides for awards in an amount between 10% and 30% of the monetary sanctions collected in the SEC action based on the whistleblower’s original information. It is widely […]
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Posted in Practitioner Publications, Securities Litigation & Enforcement, Securities Regulation
Tagged Dodd-Frank Act, Misconduct, SEC enforcement, Securities enforcement, Securities regulation, Whistleblowers
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Proposed Rules Relating to the Reporting Threshold for Institutional Investment Managers
On July 10, 2020, the U.S. Securities and Exchange Commission (the “Commission”) proposed an amendment to Form 13F that would increase the reporting threshold from $100 million to $3.5 billion (the “Proposed Amendment”). We respectfully submit this letter in response to the solicitation by the Commission for comments on the Proposed Amendment. As discussed in […]
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