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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 Christine Davine
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Byron Georgiou
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino Jonathan Watkins
- Steven J. Williams
HLS Faculty & Senior Fellows
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
Speech by Deputy Attorney General Monaco on Corporate Criminal Enforcement
I have three priorities for my time with you. First, I want to describe three new actions that the department is taking today to strengthen the way we respond to corporate crime. Second, I want to look forward and tell you about some areas we will be studying over the next months, with an eye […]
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Posted in Practitioner Publications, Securities Litigation & Enforcement, Speeches & Testimony
Tagged Board monitoring, Compliance & ethics, Corporate crime, Corporate culture, Deferred prosecution agreements, DOJ, FCPA, Misconduct, Non-prosecution agreement, Securities enforcement
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Mandatory Corporate Carbon Disclosures and the Path to Net Zero
The pathway to a global economy with net zero carbon emissions is narrowing by the day and its success depends on a universal and ambitious drive to eliminate or capture carbon emissions by governments, corporations, financial institutions, and households. The drive to reduce and ultimately eliminate carbon emissions begins with the mundane tasks of annual […]
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Posted in Academic Research, Accounting & Disclosure, ESG, Institutional Investors
Tagged Asset management, Climate change, Disclosure, Environmental disclosure, ESG, Institutional Investors, Sustainability
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SEC Staff Limits Exclusion of “Social Policy” Shareholder Proposals
The SEC Staff has issued revised guidance rescinding prior Staff Legal Bulletins addressing the exclusion of Rule 14a-8 shareholder proposals based on the social significance to a company, “micromanagement” or “economic relevance.” The changes will likely facilitate a larger number of shareholder proposals, including ESG proposals, coming to a shareholder vote. Ordinary Business Exception: The new guidance […]
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Posted in Corporate Elections & Voting, ESG, Practitioner Publications, Securities Regulation
Tagged ESG, No-action letters, Rule 14a-8, SEC, SEC rulemaking, Securities regulation, Shareholder proposals, Shareholder voting, Stakeholders
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BlackRock’s Recent Move Could Benefit Shareholder Activists in Election Contests
On October 7, 2021, BlackRock, the world’s largest asset management firm, announced that it has launched an initiative to provide its institutional clients, such as pensions and endowments, the opportunity to make their own voting decisions on proxy matters tied to their investments. Beginning in 2022, these voting options will first be made available to […]
Click here to read the complete postComments at SEC Speaks Signal Significant Policy Changes
On October 13, 2021, SEC Enforcement Director Gurbir Grewal and Deputy Enforcement Director Sanjay Wadhwa appeared at the Practicing Law Institute’s “The SEC Speaks” conference, an annual conference where Commission leaders provide updates on current initiatives and priorities of the Commission for the coming year. Director Grewal and Deputy Director Wadhwa’s remarks signaled some potentially […]
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Posted in Accounting & Disclosure, Practitioner Publications, Securities Litigation & Enforcement, Securities Regulation
Tagged Broker-dealers, Compliance and disclosure interpretation, DOJ, Misconduct, SEC enforcement, Securities enforcement, Securities regulation, Wells notice
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Corporate Board Practices in the Russell 3000, S&P 500, and S&P Mid-Cap 400
Corporate Board Practices in the Russell 3000, S&P 500, and S&P MidCap 400: 2021 Edition documents corporate governance trends and developments at US publicly traded companies—including information on board composition and diversity, the profile and skill sets of directors, and policies on their election, removal, and retirement. The analysis is based on recently filed proxy […]
Click here to read the complete postSEC Modernizes Filing Fee Rules
On October 13, 2021, the U.S. Securities and Exchange Commission adopted final rules that amend several fee-bearing forms, schedules, statements and related rules to modernize filing fee disclosure and payment methods for securities transactions. The amendments, which will require each filing fee table and related disclosure to be filed as an exhibit in a structured format, will […]
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Posted in Accounting & Disclosure, Practitioner Publications, Securities Regulation
Tagged Accounting, Disclosure, EDGAR, Filings, Financial reporting, SEC, SEC rulemaking, Securities regulation, XBRL
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Remarks by Chair Gensler at the Securities Enforcement Forum
Thank you for having me here 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 SEC staff. In 1934, in his first speech as the SEC’s first Chair, Joseph Kennedy told the National Press Club, “The Commission will make war […]
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Posted in Practitioner Publications, Regulators Materials, Securities Litigation & Enforcement, Securities Regulation, Speeches & Testimony
Tagged Accountability, Compliance and disclosure interpretation, DOJ, SEC, SEC enforcement, SEC rulemaking, Securities enforcement
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Quantifying the High-Frequency Trading “Arms Race”
In the past few decades, financial markets across most major asset classes—equities, futures, treasuries, currencies, options, etc.—have transformed from human beings interacting with each other on trading floors, pits and desks, to computerized trading algorithms interacting with each other in exchange computer servers. On the whole, this transformation from humans to computers has brought clear, […]
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Posted in Academic Research, Empirical Research, Securities Regulation
Tagged Algorithmic trading, Arbitrage, Financial technology, High-frequency trading, Liquidity, Market efficiency
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Weekly Roundup: 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 […]
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Posted in Weekly Roundup
Tagged Weekly Roundup
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