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Search resuls for: "Chris Netram"


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WASHINGTON — A Republican-led House Financial Services subcommittee held a second hearing Thursday scrutinizing the Biden administration's environmental, social and governance disclosure proposals for public U.S. companies. The hearing zeroed in on the influence of proxy advisors on shareholder voting decisions on questions related to ESG investing. Republicans pushed back against what they called the prioritization of ESG shareholder resolutions, while Democrats say shareholders deserve to be informed of all possible risks to their investments. The hearing was the second of six scheduled this month on ESG investing by House Republicans. The GOP's push against policies designed to promote ESG investing has garnered the support of some of the largest business advocacy groups, such as the Business Roundtable and the National Association of Manufacturers.
Persons: WASHINGTON —, Ann Wagner, Glass Lewis, Wagner, Gary Gensler, Trump, Chris Netram, — rescinding, Netram Organizations: Republican, Financial Services, Biden, Capital Markets, House Republicans, GOP, SEC, Securities, Exchange, Business, National Association of Manufacturers, NAM Locations: Bonn, Germany
The new disclosure rules will begin to apply when U.S. corporations report earnings for the fourth quarter of 2023, and to foreign issuers on a slightly longer timeline. The new rules "will increase the transparency and integrity" of corporate stock repurchasing overall, and allow investors "to better assess issuer buyback programs," SEC Chairman Gary Gensler said in a statement about the updated disclosures. The changes approved Wednesday represent a softening of the SEC's initial proposed disclosure rules, which would have required public companies to report trades by corporate insiders on a daily basis. Public interest groups, many of which have become increasingly critical of widespread corporate buybacks, applauded the new rules. On Capitol Hill, bipartisan support for stricter buyback disclosure rules has been apparent since the start of the SEC's rulemaking process, more than a year ago.
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