At an open meeting last week, the SEC voted, three to two, to adopt new amendments to the rules regarding proxy advisory firms, such as ISS and Glass Lewis—which the SEC refers to as proxy voting advice businesses,.
[This post revises and updates my earlier post primarily to reflect the contents of the proposing release.] At an open meeting last week, the SEC voted, three to two, to adopt new.
SEC cuts key provisions of proxy advisor regulations lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
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California s statutes requiring that publicly held corporations have a minimum number of female directors and directors from underrepresented communities rely upon the individual s self identification. Cal. Corp. Code §§ 301.3(f)(1) & 301.4(e)(1). Self-identification seems to leave the question entirely up to the individual. However, the self-identification standard raises concerns about potentially liability under the securities laws for allegedly opportunistic or unproved identifications.
First, although self-identification may be regarded simply as an opinion, an opinion may be false if it is not sincerely held. It is conceivable, for example, that some potential board candidates will insincerely identify themselves as female or members of an underrepresented community in order to obtain board positions. Such an insincere self-identification could be actionable under the securities laws because the stat
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