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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
Finalized Volcker Rule Amendments
In 2018, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “Growth Act”) into law. The Growth Act significantly amended two aspects of the Volcker Rule: (1) creating an exemption for community banks, and (2) increasing opportunities to have funds and their investment advisers co-brand by sharing names. On Tuesday, July […]
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Posted in Banking & Financial Institutions, Financial Regulation, Practitioner Publications, Securities Regulation
Tagged Banks, Financial institutions, Financial regulation, Growth Act, Securities regulation, Volcker Rule
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Cleveland, Kondo, and Capital: Remarks before the American Chamber of Commerce
It is an honor to be with you today [August 7, 2019]. I have long wanted to visit Japan. Indeed, one of the options I explored following college was coming to Japan to teach English. Instead I ended up in Austria—not teaching English. My would-have-been students are certainly better off for it, but I am […]
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Posted in Regulators Materials, Securities Litigation & Enforcement, Securities Regulation, Speeches & Testimony
Tagged Capital formation, Innovation, Investor protection, IPOs, Public firms, SEC, SEC rulemaking, Securities enforcement, Securities regulation
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5 Steps for Tying Executive Compensation to Sustainability
The final link in the chain of improving corporate accountability for sustainability is to tie improvements to pay. In a November 2018 article, we explained that companies should use incentives to motivate executives to tap big strategic opportunities related to environmental, social, and governance (ESG) goals. Now we want to describe how these incentives should […]
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Posted in Accounting & Disclosure, Executive Compensation, Practitioner Publications
Tagged Climate change, Corporate Social Responsibility, Environmental disclosure, ESG, Executive Compensation, Incentives, Sustainability
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Weekly Roundup: August 2–8, 2019
A Catch 22 for Asset Managers Posted by Jasmin Sethi, Sethi Clarity Advisers LLC, on Friday, August 2, 2019 Tags: Asset management, BlackRock, Diversity, Engagement, Index funds, Institutional Investors, Shareholder voting, SSgA, Transparency, Vanguard Opportunities for Cross Border Cooperation in Regulation of Digital Assets Posted by Hester M. Peirce, U.S. Securities and Exchange Commission, on Friday, August 2, 2019 Tags: Cryptocurrency, Financial technology, Howey test, ICOs, International governance, Investor protection, Safe harbor, SEC, Securities regulation Weeds […]
Click here to read the complete postFive Takeaways From the 2019 Proxy Season
As the spotlight on board diversity intensifies, the pace at which women are joining boards is accelerating, and a growing number of companies are disclosing the board’s racial and ethnic diversity. At the same time, against a backdrop of increased focus on companies’ efforts to create long-term value, enhanced proxy disclosures on corporate sustainability highlight […]
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Posted in Accounting & Disclosure, Boards of Directors, Corporate Social Responsibility, Institutional Investors, Practitioner Publications
Tagged Board composition, Boards of Directors, Corporate Social Responsibility, Disclosure, Diversity, ESG, Institutional Investors, Sustainability
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Employer Losses and Deferred Compensation
Companies and their employees may choose whether to structure pay as cash or other currently includable and deductible compensation or as deferred compensation, including equity-based pay, which will be included in income and deducted in the future. It is well understood that taxes affect the attractiveness of deferred compensation relative to current compensation and that […]
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Posted in Academic Research, Executive Compensation
Tagged Equity-based compensation, Executive Compensation, Incentives, Taxation
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Spotlight on Boards
The ever-evolving challenges facing corporate boards prompt periodic updates to a snapshot of what is expected from the board of directors of a major public company—not just the legal rules, or the principles published by institutional investors and various corporate and investor associations, but also the aspirational “best practices” that have come to have equivalent […]
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Posted in Accounting & Disclosure, Boards of Directors, Institutional Investors, Practitioner Publications
Tagged Board oversight, Boards of Directors, Corporate culture, Engagement, ESG, Institutional Investors, Long-Term value, Management, Risk management, Sustainability
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California Dreaming?
In 2013, California followed the transnational trend and passed a voluntary quota for women on corporate boards. While many developed economies had already adopted hard quotas, California passed a much softer one. Over the following years, shocking tales of sex inequality and harassment surfaced in California’s marquee industries, Hollywood and Silicon Valley. As a result, […]
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Posted in Academic Research, Boards of Directors, Corporate Social Responsibility, International Corporate Governance & Regulation, Securities Regulation
Tagged Boards of Directors, California, Corporate Social Responsibility, Diversity, Europe, Incentives, International governance, Securities regulation, State law
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France’s First Binding “Non” on Say-On-Pay
The 2019 season marked French shareholders’ second opportunity to cast retrospective binding votes on executive compensation—and for the first time, shareholder votes prevented the payment of a bonus award, as well as the implementation of a new pay policy. Many markets offer a say-on-pay vote these days, but under Sapin II legislation, which came fully […]
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Posted in Boards of Directors, Comparative Corporate Governance & Regulation, Executive Compensation, International Corporate Governance & Regulation, Program News & Events
Tagged Boards of Directors, EU, Executive Compensation, France, International governance, Management, Say on pay, Shareholder voting
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