DIRS.INFO The most relevant business & tech news

☆ What the SEC climate disclosure rule may mean for investors
▼ + stars: | 2024-03-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Climate disclosures would be made in annual filings companies make to the SEC, such as a Form 10-K, and in registration statements filed before an initial public offering. "I think climate disclosures have largely become table stakes for the investment community," said Lindsey Stewart, director of investment stewardship research at Morningstar. Current climate disclosures are 'uncommon'Ships on the Panama Canal on August 21, 2023. Shipping experts fear such events could become the new normal as rainfall shortfalls highlight climate risks. The SEC proposal outlined three tiers of emissions disclosures: Scopes 1, 2 and 3.

Persons: Gary Gensler, Win Mcnamee, —, Lindsey Stewart, Daniel Gonzalez, Stewart, They'd, Rachel Curley, Hurricane Idalia, Christian Monterrosa, Cowen, Patrick McHenry, Sen, Tim Scott, Bill Huizenga, Chris Ratcliffe, They're Organizations: Securities, Exchange, Financial Services, General, Getty, The Securities, Exchange Commission, SEC, Morningstar, Panama Canal Authority, Shipping, Anadolu Agency, P Global, Corporations, U.S . Sustainable Investment, Hurricane, Bloomberg, Republicans, Economic, Deloitte Locations: Washington, Panama, U.S, Cedar Key , Florida, R

WASHINGTON (AP) — A bill to create a bipartisan commission that would tackle the nation’s soaring debt and make policy recommendations to Congress won approval Thursday from a House committee. Many Democrats see the commission as an attempt to force cuts to Social Security and Medicare. The commission would have 16 members: 12 from Congress, evenly divided by party, and four outside experts who would not have voting power. Republicans blame federal spending for the annual deficits while many Democrats cite tax cuts enacted under Republican administrations. Three committee Democrats voted for it, including Rep. Scott Peters, D-Calif., who worked with Rep. Bill Huizenga, R-Mich. in sponsoring the bill.

Persons: “ everything's, Joe Manchin, Mitt Romney, Jodey Arrington, ”, Arrington, “, Brendan Boyle, Mike Johnson, Hakeem Jeffries, ” Johnson, ” Jeffries, Scott Peters, Bill Huizenga, Peters, ” Peters, Becca Balint Organizations: WASHINGTON, Republicans, Social Security, GOP, Republican, Pennsylvania, U.S . Capitol Police, Democrats, Democratic, ” Locations: R, Utah, Texas, New York

☆ Regular Disorder: How Congress broke itself, caused chaos and misery, and why it may not be possible to go back ever again.
▼ + stars: | 2023-11-26 | by ( Walt Hickey | ) www.businessinsider.com time to read: +10 min

Regular order refers to the process of legislative committees holding hearings and marking up bills before referring them to the legislature as a whole. "And that has sort of thrown out the window the whole idea of regular order." The move away from regular order was natural selection, this argument goes. AdvertisementThat assumes, however, that party leaders and the members that put them there would want to have a functioning government. The very incentives that pushed Congress away from regular order are stronger than ever.

Persons: —, backbenchers, John Duricka What's, Bill, Newt Gingrich, Alan Wiseman, Gingrich, Donald Wolfensberger, James M, Curry, Andrew Harnik, he's, Bill Huizenga Organizations: Service, Representatives, AP, Republican, 104th, Center, Wilson, University of Utah, POLITICO Locations: fecklessness, Congress, retool

☆ US lawmakers pressure FDIC chief over misconduct allegations
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Friday's announcements suggest lawmakers will continue to pile pressure on Gruenberg over revelations about a key agency in the Biden administration's financial reform agenda. In a letter, Republican members of the House Financial Services Committee on Friday publicly notified Gruenberg of a probe announced earlier this week. An FDIC spokesperson told Reuters the agency would be "fully transparent and cooperative" with the committee's investigation. An FDIC OIG representative told Reuters on Friday the office had received the Senate Democrats' request and was reviewing it. "Chairman Gruenberg, the viability of your leadership is in question," wrote House Financial Services Committee Chair Patrick McHenry and senior members Bill Huizenga and Andy Barr, all Republicans.

Persons: Martin Gruenberg, Yuri Gripas, Gruenberg, Patrick McHenry, Bill Huizenga, Andy Barr, Douglas Gillison, Matthew Lewis Organizations: Federal Deposit Insurance Corporation, REUTERS, Companies U.S . House, U.S . Federal Deposit Insurance Corporation, Biden, Financial, FDIC, Reuters, Democratic, Banking, FDIC's, Democrats, Thomson Locations: Washington

☆ Justice Clarence Thomas enjoyed more vacations, private flights and perks thanks to wealthy friends, new ProPublica report details
▼ + stars: | 2023-08-10 | by ( Tierney Sneed | ) edition.cnn.com time to read: +8 min

These costly trips and travel perks often went unreported on the justice’s financial disclosure forms, ProPublica said in its investigation. Lynne Sladky/APProPublica interviewed more than 100 people, including staff that would have worked some of the trips that Thomas took. Thomas did not respond to ProPublica’s detailed list of questions for its report, nor did Novelly. None of the Thomas benefactors highlighted in the new report appear to have had direct business in front of the Supreme Court, ProPublica said. Thomas intends to amend his financial disclosure forms, a source close to the justice previously told CNN, to at least reflect Crow’s 2014 purchase of Thomas’ mother’s home.

Persons: Clarence Thomas, Thomas, ProPublica, Harlan Crow, Thomas ’, Crow, “, ” Thomas, David Sokol, Berkshire Hathaway, Wayne Huizenga, Paul “ Tony ” Novelly, Lynne Sladky, Huizenga, Daniel Acker, Getty Images Sokol, ” Sokol, Republican megadonors, he’s, Paul Anthony, Tony, Novelly, Horatio, Jeremy Fogel, ”, Fogel, Horatio Alger, John Roberts, Roberts, Samuel Alito, Thomas ’ mother’s, Anthony Welters, Obama Organizations: CNN, GOP, Blockbuster, Waste Management Inc, NFL, Miami Dolphins, New York Jets, US Marshals Service, Berkshire Hathaway Inc, Bloomberg, Getty Images, Republican, Horatio Alger, Distinguished, Horatio, Horatio Alger Association, New York Times, The New York Times, Democratic, Times Locations: Florida, Berkshire, Miami, Omaha , Nebraska

☆ Clarence Thomas accepted previously undisclosed luxury vacations with rich friends that likely cost millions: report
▼ + stars: | 2023-08-10 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Clarence Thomas took at least 38 other previously undisclosed luxury trips, ProPublica reported. The outlet estimates that Thomas has accepted millions in trips he didn't report since joining the court. According to its latest story, Thomas accepted a Bahamas trip, a stay at a luxury Jamaica resort, and premium seats to games. According to ProPublica's report, Thomas has accepted at least 38 other premium vacations that he did not previously disclose. The sheer level of what Thomas has accepted is staggering, a former federal judge responsible for financial disclosures told the outlet.

Persons: Clarence Thomas, ProPublica, Thomas, Jeremy Fogel, Paul, Tony, Novelly, Wayne Huizenga, David Sokol, Huizenga, Gary, Sokol, Virginia, Justice Thomas, he's, Samuel Alito Organizations: Service, Supreme, Miami Dolphins, Florida Panthers, Berkshire, Nebraska Cornhuskers, Big, Congressional, Republicans Locations: Bahamas, Jamaica, Wall, Silicon, Nebraska

☆ US Supreme Court's Clarence Thomas enjoyed array of luxury perks, report says
▼ + stars: | 2023-08-10 | by ( Andrew Chung | ) www.reuters.com time to read: +4 min

U.S. Supreme Court Associate Justice Clarence Thomas poses during a group portrait at the Supreme Court in Washington, U.S., October 7, 2022. REUTERS/Evelyn Hockstein/File PhotoAug 10 (Reuters) - U.S. Supreme Court Justice Clarence Thomas has been treated to far more luxury vacations and exclusive perks from wealthy patrons than previously known, news organization ProPublica reported on Thursday, raising more questions about the lack of binding ethical standards at the court. At least twice, the late billionaire businessman Wayne Huizenga sent his personal 737 jet to pick Thomas up and bring him to South Florida, ProPublica reported. Unlike other members of the federal judiciary, the life-tenured justices have no binding ethics code of conduct, though they are subject to certain financial disclosure laws. At an event in May, Roberts said the court is considering steps to "adhere to the highest standards of conduct."

Persons: Clarence Thomas, Evelyn Hockstein, ProPublica, Thomas, Wayne Huizenga, Harlan Crow, Roe, Wade, John Roberts, Samuel Alito recuses, Alito, Roberts, Andrew Chung, Will Dunham Organizations: Supreme, REUTERS, Democratic, Committee, Judicial Conference, Thomson Locations: Washington , U.S, Florida, Jamaica, South Florida, Dallas, Alaska

☆ House GOP retirement fund bill takes aim at ESG investing
▼ + stars: | 2023-06-21 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

House Republicans are continuing their attempt to pump the brakes on so-called "woke" investing with new legislation that could place limits on financial advisors and retirement funds. Rep. Andy Barr, R-Ky., will introduce a bill Wednesday that would target funds that consider environmental, social and governance issues, known as ESG. Barr's measure would update the Employee Retirement Income Security Act to require retirement funds to focus only on maximizing profits, limiting the ability to invest in ESG options. In addition, advisors would need to disclose the difference in fees and performance between ESG funds and a similar index. Proponents say ESG investing is intended to promote the social good, although critics say it hurts investors.

Persons: Andy Barr, Kevin McCarthy, Bill Huizenga, Barr, fiduciaries, Jared Golden, Joe Manchin, Jon Tester —, Joe Biden, who's, Andy Beshear, Brad Sherman Organizations: Investments, U.S, Capitol, Republicans, CNBC, Biden, — Rep, Sens, Senate, Financial, Republican, Democratic, California Democrat, Financial Services Locations: Ky, ESG, America, Kentucky, California

House lawmakers tore into top U.S. bank regulators Wednesday, questioning their competency and saying examiners were asleep at the wheel, at a second day of congressional hearings this week about how Silicon Valley Bank and Signature Bank collapsed practically overnight on March 10 and March 12. "We need competent financial supervisors, but Congress can't legislate competence," House Financial Services chairman Rep. Patrick McHenry, R-N.C., told top officials at the Federal Reserve, Treasury and FDIC at the beginning the hearing. "The light touch cautions from the Fed to SVB management are clearly not what Congress intended for bank supervision," said Waters. Republican Rep. Bill Huizenga, Mich., demanded raw, confidential supervisory information about the banks, available to regulators ahead of the collapses. Members of the Republican majority House challenged many of the decisions made by regulators in the hours and days after SVB collapsed and Signature Bank followed 48 hours later.

☆ U.S. regulators say banking system 'sound and resilient'
▼ + stars: | 2023-03-24 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, March 24 (Reuters) - The multi-regulator U.S. Financial Stability Oversight Council agreed on Friday that the U.S. banking system remains "sound and resilient" despite stress on some institutions, the U.S. Treasury said in its latest statement to calm jittery markets and bank depositors. "The Council discussed current conditions in the banking sector and noted that while some institutions have come under stress, the U.S. banking system remains sound and resilient," the Treasury said in a statement. They added that the basis of the Treasury, Fed and FDIC determinations in the SVB and Signature cases "are of particular importance." Those actions to invoke "systemic risk exceptions" were taken by Yellen, President Joe Biden, the FDIC, and the Fed, which supervised Silicon Valley and Signature. Reporting by David Lawder; additional reporting by Pete Schroeder; Editing by Diane Craft and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Republicans seek records on SEC's climate proposal as part of push against ESG investing plans
▼ + stars: | 2023-02-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Gensler recently announced that the agency is considering adjustments to the proposal, first introduced in March 2022, after pushback from investors. Gensler told CNBC's "Squawk Box" earlier this month that the proposal simply required a clear climate transition plan from public companies. Earlier this month, McHenry formed a Republican working group on environmental, social and governance, or ESG, plans in part to target the rule disclosure. ESG platforms broadly apply to taking into account the environmental and social implications of a company's decisions, and not just its financial performance, as part of investing decisions. Many House Republicans have criticized ESG plans — but some of them have received campaign contributions from the very financial firms they are targeting.

☆ GOP lawmakers vilify ESG moves at BlackRock, Vanguard but take their money nonetheless
▼ + stars: | 2023-02-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

But Republicans have vilified BlackRock, Vanguard Group and State Street for leading the push on Wall Street to promote clean energy and what GOP lawmakers often title "left-wing social priorities." Still, many Republican lawmakers received money from the very firms their party is criticizing. It was the third election cycle in a row that both lawmakers took donations from the firm's PAC. Rep. Ann Wagner, R-Mo., received $10,000 from BlackRock and a combined $6,500 from Vanguard and State Street in the 2022 cycle. Huizenga's spokesman Brian Patrick said the donations won't affect the lawmaker's position on ESG issues.

☆ Top House Republicans scrutinize SEC investigation of failed crypto exchange FTX
▼ + stars: | 2023-02-10 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Rep. Patrick McHenry, a Republican of North Carolina and ranking member of the House Financial Services Committee, speaks during a hearing in Washington, D.C.Top House Republicans on Friday sent a letter to the Securities and Exchange Commission as Congress scrutinizes the agency's actions against Sam Bankman-Fried, the former CEO of failed cryptocurrency exchange FTX. Bankman-Fried was scheduled to testify before the committee on Dec. 13, a day after he was arrested by Bahamian officials. FTX filed for Chapter 11 bankruptcy and Bankman-Fried stepped down as its CEO in November. The committee's request comes a week after McHenry announced the panel will examine certain so-called overreaches by financial oversight agencies. The Financial Services Committee requested communications between the SEC's enforcement division, specifically its director, Gurbir Grewal; communications among Gensler's direct staff and records and communications between SEC and the Justice Department over the last few months by 5 p.m. on Feb. 23.

☆ SEC Chair Gary Gensler tees up changes to how the stock market operates
▼ + stars: | 2022-12-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Execution quality disclosure Market participants are required to submit monthly reports indicating how well they are executing client orders. Gensler has said investors today need a better understanding of how well their trading orders are being executed. Gensler's broad agenda The proposals on market structure are part of a broad agenda Gensler has undertaken this year.

☆ Congressional stock report: Diet Coke-loving Debbie Dingell buys the competition, environmentalist Lois Frankel eyes oil, and Dan Crenshaw gets his move on
▼ + stars: | 2021-03-29 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +6 min

Members of Congress regularly make stock trades and are required to disclose them. Here's Insider's compilation of the most recent stock trades lawmakers disclosed. Her stock sales include the American Express Company, Booz Allen Hamilton Holding Corporation, consumer credit reporting agency Equifax Inc., and oil company Hess Corporation. Dingell this month also sold up to $50,000 worth of stock in the parent company of department store Macy's. These disclosures, which include a range of information about members' income, assets, debt, and financial trades, were originally due May 17.

Search resuls for: "Huizenga"

15 mentions found