-
Supported By:
Subscribe or Follow
HLS Faculty & Senior Fellows
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
Diversity, Experience, and Effectiveness in Board Composition
Investor and regulator focus on board composition and practices has evolved significantly over the past 20 years. In the wake of the Enron and WorldCom collapses, these stakeholders initially focused on strengthening board independence and oversight. After the financial crisis of 2008, that gave way to a greater focus on whether boards have the right […]
Click here to read the complete post
Posted in Boards of Directors, ESG, Institutional Investors, Practitioner Publications
Tagged Board composition, Boards of Directors, Diversity, Institutional Investors, Proxy voting, Shareholder proposals, Shareholder voting
Comments Off on Diversity, Experience, and Effectiveness in Board Composition
California Bill Would Prohibit Settlement Agreements Keeping Certain Information Secret
The California Senate will soon consider a bill prohibiting settlement agreements that prevent disclosing information about defective products or environmental hazards. The Public Right To Know Act of 2022, SB 1149, would impact actions involving a “defective product or environmental hazard that poses a danger to public health or safety.” The bill would, if passed, […]
Click here to read the complete post
Posted in Accounting & Disclosure, Court Cases, ESG, Practitioner Publications, Securities Litigation & Enforcement
Tagged California, Environmental disclosure, ESG, Securities litigation, Settlements, State law
Comments Off on California Bill Would Prohibit Settlement Agreements Keeping Certain Information Secret
Boards Are Tying Goals to ESG Metrics
Key Findings Customers, employees, shareholders, and other stakeholders, are increasingly expecting companies to tackle environmental, social, and governance (ESG) issues. That includes the American public. In our 2021 survey of the People’s Priorities, “The board of directors holds executives accountable to the interests of its workers, customers, communities, and the environment, as well as shareholders,” […]
Click here to read the complete postHolding Foreign Insiders Accountable
1. Introduction In October 2020, Ant Group, an affiliate of the Nasdaq-listed Chinese firm Alibaba, was preparing for its initial public offering (IPO). But on October 24, Alibaba CEO Jack Ma publicly criticized Chinese regulators and Communist Party officials (Zhai et al., 2020). Chinese leaders responded forcefully, and on November 3 the Ant IPO was […]
Click here to read the complete post
Posted in Academic Research, Empirical Research, International Corporate Governance & Regulation, Securities Litigation & Enforcement, Securities Regulation
Tagged China, Foreign firms, Insider trading, International governance, SEC, SEC enforcement, Securities enforcement, Securities regulation
Comments Off on Holding Foreign Insiders Accountable
What Boards Should Know About Digital Assets
The proliferation of digital assets has accelerated rapidly, generating a level of market interest sufficient to influence strategy at many major financial institutions and other corporations. Digital assets are disrupting the entire financial market, driving changes in the financial ecosystem. Blockchain, the underlying distributed ledger technology (DLT) for managing digital assets, is also gaining considerable […]
Click here to read the complete post
Posted in Accounting & Disclosure, Banking & Financial Institutions, Financial Regulation, Practitioner Publications
Tagged Accounting, Blockchain, Cryptocurrency, Financial institutions, Financial regulation, Financial technology, Risk, Stablecoins
Comments Off on What Boards Should Know About Digital Assets
Taskforce on Nature-Related Financial Disclosures Framework: Overview of First Beta Release
In March, the Taskforce on Nature-related Financial Disclosures released the first beta version (v0.1) of the TNFD Nature-related Risk & Opportunity Management and Disclosure Framework. The first beta release marks the beginning of an 18-month consultation and development process to improve the Framework’s relevance, usability and effectiveness. The TNFD is thus encouraging market participants and […]
Click here to read the complete post
Posted in Accounting & Disclosure, ESG, International Corporate Governance & Regulation, Practitioner Publications
Tagged Disclosure, Environmental disclosure, ESG, International governance, SEC rulemaking, Securities regulation, Stakeholders, Sustainability
Comments Off on Taskforce on Nature-Related Financial Disclosures Framework: Overview of First Beta Release
California Gender Board Diversity Law Is Held Unconstitutional
The law suffers the same fate as the California board diversity law requiring directors from “underrepresented communities.” On May 13, 2022, Los Angeles Superior Court Judge Maureen Duffy-Lewis issued a ruling in Crest v. Padilla I finding that California Corporations Code Section 301.3 (SB 826), which requires publicly listed corporations in California to have women […]
Click here to read the complete post
Posted in Boards of Directors, Corporate Elections & Voting, ESG, Practitioner Publications, Securities Litigation & Enforcement
Tagged Board composition, Boards of Directors, California, Diversity, ESG, Securities litigation, State law
Comments Off on California Gender Board Diversity Law Is Held Unconstitutional
Stakeholder Capitalism and ESG as Tools for Sustainable Long-Term Value Creation
Recent high profile investigations into greenwashing, the ongoing war in Ukraine and soaring energy costs have prompted questions as to the purpose and value of ESG, and more broadly, stakeholder capitalism. Some have criticized stakeholder capitalism and ESG as “woke” politics, a threat to shareholder interests and a distraction for boards and management. Others have […]
Click here to read the complete postRemarks by Chair Gensler Before the Investor Advisory Committee
Thank you for that introduction, Christopher. Good morning. It is great to join the Investor Advisory Committee (IAC) today. As is customary, I’d like to note that my views are my own, and I’m not speaking on behalf of the Commission or Securities and Exchange Commission staff. I would like to welcome the new members […]
Click here to read the complete post
Posted in Accounting & Disclosure, Practitioner Publications, Regulators Materials, Securities Regulation, Speeches & Testimony
Tagged Investor protection, Retail investors, Risk disclosure, SEC, Securities fraud, Securities regulation
Comments Off on Remarks by Chair Gensler Before the Investor Advisory Committee