Month: February 2018

SEC Issues Updated Guidance on Cybersecurity Risk Disclosure

Updated cybersecurity interpretive guidance is finally here. According a statement issued by the U.S. SEC on its website: Yesterday, the Securities and Exchange Commission voted unanimously to approve a statement and interpretive guidance to assist public companies in preparing disclosures about cybersecurity risks and incidents. “I believe that providing the Commission’s views on these matters …

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CII says Company is “Gaming” the Shareholder Proposal Process

The Council of Institutional Investors, a nonprofit, nonpartisan association of public, corporate and union employee benefit funds, other employee benefit plans, state and local entities charged with investing public assets, and foundations and endowments with combined assets under management exceeding $3.5 trillion, wrote a letter to the U.S. SEC objecting to a recent no-action letter …

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SEC and CFTC Express Concern to Senate Banking Committee Over Bitcoin, Cryptocurrency

The market cops have weighed in. U.S. SEC Chairman Jay Clayton and Commodities Futures Trading Commission Chairman Christopher Giancarlo expressed in a hearing before the Senate Banking Committee that Congress should consider expanding federal oversight of bitcoin, cryptocurrency and trading that falls under the “spot” market. SEC Chairman Clayton also signaled that enforcement actions could …

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BlackRock Releases Updated Proxy Voting Guidelines (Calls for at Least Two Women on Every Board)

Davis Polk does a nice job of summarizing BlackRock’s February 2018 updated proxy voting guidelines for U.S. securities. See Davis Polk’s summary below: See BlackRock’s full updated guidelines, here. Two women on boards.  In its discussion of the importance of boards comprising a diverse selection of individuals bringing to bear a range of experiences and …

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