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...“ESG remains a priority area for the SEC and I would expect to see some enforcement cases before the end of the agency’s fiscal year in September,” said Jina Choi, a former head of the SEC’s San Francisco...
...The settlement proved controversial last year when an SEC commissioner, Hester Peirce, argued EY did not have an obligation to disclose the whistleblower complaint....
...Republican SEC commissioner Hester Peirce worried that it was too easy for frivolous activists to get board nominees on a company’s ballot....
...While all three Democratic SEC commissioners voted in favour of the rule, they also said more needed to be done....
...SEC commissioners voted 3-2 along partisan lines to pass the measure. “I’ve been a securities lawyer for three decades,” said Allison Herren Lee, a former SEC commissioner....
...He is “much more of a finance mind than a legal mind”, says Robert Jackson, professor at the New York University School of Law and a former SEC commissioner....
...The SEC’s two Republican commissioners, who support the crypto sector, were in favour of the move....
...The comments from McGuiness, EU commissioner of financial services and stability, were the strongest yet from a top EU official on the bloc’s plans to modernise the plumbing of its securities markets....
...Commissioners and SEC staff have publicly disclosed having 16 meetings with investors, providers and lobbyists about the proposal since September....
...You know Nelson Peltz at Disney has control over $3bn worth of shares whereas, yeah, the SOC owns $16,000 worth of Starbucks shares....
...Justice Brett Kavanaugh added that agencies’ tribunals are “at least perceived as not being impartial”, since agency commissioners both bring the enforcement actions and appoint the in-house judges who hear...
...“[The SEC] just ignored the need to harmonise globally and . . . that’s a nightmare for issuers,” said Allison Herren Lee, a lawyer at Kohn, Kohn & Colapinto and a former SEC commissioner....
...Commissioners Hester Peirce and Mark Uyeda questioned the rulemaking process, including the short initial consultation period, and the speed of the implementation timetable....
...She then spent time in private practice and on the SEC staff. There she served as counsel to Paul Atkins, another Republican commissioner known for uncompromising attacks on regulation....
...The SEC said the rule will capture 76 per cent of funds, up from 60 per cent. Consumer groups applauded the move, saying the stricter standards for use of ESG in names was particularly welcome....
...SEC commissioners “have the unfortunate distinction of learning that investors of all stripes are the victims of fraud,” she writes, citing FTX (backed by, among many others, BlackRock and Third Point) and...
...Peirce, one of five members of the SEC, has often split with Gensler over cryptocurrency regulation....
...Join us to hear from an exceptional line-up of speakers, including Emmanuel Faber, Laurence Tubiana, and CFTC commissioner Christy Goldsmith Romero, among others....
...Fellow SEC Commissioner Caroline Crenshaw, who dissented from the approval, warned that spot markets remained open to fraud and manipulation....
...The fight will be key test of a shift in corporate governance influenced by the SEC rule change....
...The last straw came when he failed to tell fellow SEC commissioners that his pick to head the new Public Company Accounting Oversight Board had run the audit committee of a company accused of fraud....
...[that] will squelch competition in the name of enhancing it,” said Hester Peirce, a Republican commissioner who laid out many of the industry’s objections to the rule before voting against it....
...I agree that this would be a better idea (even though, in my view, the right regulators’ office would be that of a state gambling commissioner)....
...The nomination of Hoekstra as EU climate commissioner follows the departure of the previous holder of the post, Frans Timmermans, to run in Dutch elections in November....
...Marc Filippino So there were some members of the SEC who are not on board with these rule changes. Here’s SEC commissioner Hester Peirce during yesterday’s meeting....
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