Corporate governance

Searches and Hires -

Searches and Hires -

New Jersey issued an RFP for three services: proxy research and voting; securities class-action monitoring; and a proxy voting guideline review.
Ailman drops Facebook account; CalSTRS to ask about 'terrible' governance

Investing -

Investing -

CalSTRS CIO is deleting his personal Facebook account, and the pension fund wants to talk to the company on its governance practices.
DiNapoli pushes 10 companies to cut greenhouse gas emissions

ESG -

ESG -

New York state Comptroller Thomas P. DiNapoli has written to 10 companies asking them to reduce greenhouse gas emissions.
DiNapoli withdraws shareholder proposals at 3 energy companies

ESG -

ESG -

New York state Comptroller Thomas P. DiNapoli announced he has withdrawn shareholder proposals at three energy companies.
University of Michigan amends conflict-of-interest policies surrounding investment office

Endowments and Foundations -

Endowments and Foundations -

University of Michigan has implemented several changes to its investment practices in order to mitigate conflicts of interest and increase transparency.
NYC comptroller calls on Facebook to improve transparency, accountability

GOVERNANCE -

GOVERNANCE -

Scott Stringer asked Facebook's lead independent director to work with other independent directors to improve transparency and accountability.
U.K.'s CMA explores potential conflicts of interest for outsourced CIOs

Consulting -

Consulting -

U.K. investment consultants may be required to split advisory and fiduciary management businesses to avoid potential conflicts of interest.
Institutional investors say more data needed for adequate sustainable investing strategies

ESG -

ESG -

Speakers at the World Pensions Council conference agreed the lack of adequate data is preventing asset owners from delivering the Paris agreement objectives.
Tesla shareholders approve $2.6 billion CEO stock option despite pension fund opposition

Governance -

Governance -

A $2.6 billion stock option grant for Tesla CEO Elon Musk was supported by a majority of shareholders, despite objections from several large pension funds.
N.Y. State Common to oppose all board directors at companies without women members

Governance -

Governance -

New York State Common Retirement Fund will vote against all corporate boards of directors at companies with no women board members.
U.S. Supreme Court backs shareholder lawsuits over IPOs

COURTS -

COURTS -

The Supreme Court backed one avenue for lawsuits over IPOs, letting shareholders use a federal securities law to press claims in state court.
Proposed pay equity restriction is misguided

EDITORIAL -

EDITORIAL -

Placing pay-equity policy restrictions on public funds' use of alternatives managers, as proposed in a bill in California, is misguided.
BlackRock offers more details in its corporate governance efforts

Governance -

Governance -

BlackRock has followed up with some more details on the topics the firm is covering in engagement sessions with companies.
CII conference panelists dish on corporate culture, voting structures

GOVERNANCE -

GOVERNANCE -

Attendees of CII's spring conference convened to talk about everything from corporate culture to board diversity to unequal voting structures.
Standards Board for Alternative Investments creates North American committee

ALTERNATIVES -

ALTERNATIVES -

Standards Board for Alternative Investments has established a North American committee.