Harvard Corporate Governance

JULY 26, 2023

This post is based on their Sustainable Investment Survey. About the survey This group of respondents represents the most balanced profile to date for this survey, showing that the interest in sustainable investment issues run far and wide. Schanzenbach and Robert H.

Technology 130

Technology Marketability 130

Harvard Corporate Governance

JUNE 20, 2022

Key Points: The proposal on ESG disclosures for investment advisers and registered investment companies would introduce requirements for advisers and registered funds that consider ESG factors in their investment processes to disclose more about those factors’ role in investment decisions. more…).

Compliance 189

Compliance 189

Harvard Corporate Governance

JANUARY 13, 2023

on Friday, January 13, 2023 Editor's Note: Sandy Boss is Global Head of Investment Stewardship, John McKinley and Michelle Edkins are Managing Directors at BlackRock, Inc. We manage assets on behalf of institutional and individual clients, across a full spectrum of investment strategies, asset classes, and regions.

Capital Structure 233

Capital Structure 233

Harvard Corporate Governance

JUNE 27, 2022

Bebchuk and Roberto Tallarita (discussed on the Forum here ); Companies Should Maximize Shareholder Welfare Not Market Value by Oliver Hart and Luigi Zingales (discussed on the Forum here ); Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee by Max M. Schanzenbach and Robert H. Background.

Finance 306

Finance Marketability 306

Harvard Corporate Governance

NOVEMBER 16, 2022

Welcome to the Compliance Outreach Program of the Securities and Exchange Commission’s Investment Adviser/Investment Company National Seminar. As is customary, I’d like to note that my views are my own, and I’m not speaking on behalf of my fellow Commissioners or the staff.

Compliance 183

Compliance Finance 183

Harvard Corporate Governance

MARCH 1, 2023

Hart and Luigi Zingales; and Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee (discussed on the Forum here ) by Max M. So-called Environmental, Social, and Governance (“ESG”) investment practices have come under increasing legal scrutiny. Schanzenbach and Robert H.

Marketability 220

Marketability 220

Harvard Corporate Governance

SEPTEMBER 18, 2023

In Discretionary Investing by ‘Passive’ S&P 500 Funds , we show this assumption is false as a matter of both law and empirical fact. These deviations amount to over $60 billion in discretionary investment decisions, roughly equivalent to Target Corporation’s entire market capitalization. in the fourth quarter of 2022 alone.

Market Capitalization 220

Market Capitalization Marketability 220

Harvard Corporate Governance

DECEMBER 18, 2022

The proposal is designed to ensure that registered funds maintain an appropriate balance of liquid investments, standardize their classification of liquid investments, mitigate the dilution of remaining shareholders’ interests following net purchases or net redemptions and file timely reports that detail their liquidity risk management.

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Harvard Corporate Governance

MARCH 22, 2024

Bebchuk and Roberto Tallarita; Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee (discussed on the Forum here ) by Max M. Confusion surrounding ESG (environmental, social, and governance) data and mislabeling of sustainable investment products complicates adoption and regulation.

Technology 130

Technology Marketability 130

Harvard Corporate Governance

AUGUST 15, 2022

The last two decades have seen a dramatic increase in the amount of capital invested in passive index funds. While these funds help investors earn benchmark index returns for relatively low fees, the increase in passive investing is not without controversy. Passive investors, by definition, hold portfolios that simply track an index.

Finance 152

Finance Marketability 152

Harvard Corporate Governance

MAY 11, 2022

The Division announced an enhanced focus on five “significant areas”: (i) private funds; (ii) environmental, social and governance (“ESG”) investing; (iii) standards of conduct, including Regulation Best Interest, fiduciary duty and Form CRS; (iv) information security and operational resiliency; and (v) emerging technologies and crypto-assets.

Compliance 235

Compliance Technology 235

Harvard Corporate Governance

NOVEMBER 17, 2023

Normal 0 false false false EN-US ZH-CN AR-SA Globally, investment in so-called ESG (environmental, social, governance) funds has grown exponentially in recent years, far outstripping the rate of growth of assets under management more generally. Yet distinguishing amongst these various explanations is a challenge.

Marketability 220

Marketability 220

Harvard Corporate Governance

OCTOBER 12, 2023

Attacks on ESG Investing and “Woke Capitalism“ are also attacks on company endorsements of and support for Sustainability. In the last year there has been a mounting wave of attacks against “ Woke Capitalism” and ESG Investing. Strine, Jr. Interestingly these public attacks on “woke capitalism” include Wal-Mart as much as BlackRock.

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226

Harvard Corporate Governance

JUNE 29, 2022

We ask that the Commission develop rules to require public companies to disclose sufficient information to allow investors to assess the extent to which firms invest in their workforce. We differ in our views about the regulation of firms’ relationships with their employees generally. more…).

Corporate Finance 314

Corporate Finance Banking Finance Marketability 314

Harvard Corporate Governance

SEPTEMBER 1, 2022

Securities and Exchange Commission (SEC) published a Staff Bulletin providing guidance regarding conflicts of interest under broker-dealer Regulation Best Interest (Reg BI) and investment adviser fiduciary duty standards. [1] 5] A few themes running through the Bulletin are discussed below. more…).

Compliance 230

Compliance 230

Harvard Corporate Governance

MAY 19, 2023

on Friday, May 19, 2023 Editor's Note: John Galloway is Global Head of Investment Stewardship at Vanguard, Inc. This post is based on a publication by Vanguard Investment Stewardship. Posted by John Galloway, Vanguard, Inc.,

Marketability 130

Marketability 130

Harvard Corporate Governance

JANUARY 17, 2023

Bebchuk and Roberto Tallarita; Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee (discussed on the Forum here ) by Robert H. million, the SEC focus was on statements made by the adviser regarding how it integrated ESG into its investment decision-making process. Sitkoff and Max M.

Compliance 230

Compliance 230

Harvard Corporate Governance

AUGUST 17, 2022

Securities and Exchange Commission (SEC) proposed new disclosure and naming requirements for funds that consider environmental, social and governance (ESG) factors in their investment decisions. The same week the proposed rules were released, the SEC announced that BNY Mellon Investment Adviser, Inc. agreed to pay a $1.5

Banking 250

Banking Marketability 250

Harvard Corporate Governance

AUGUST 26, 2023

Securities and Exchange Commission (SEC or Commission) proposed new rules for broker-dealers (Proposed Rule 15(1)-2) and investment advisers (Proposed Rule 211(h)(2)-4) on the use of predictive data analytics (PDA) and PDA-like technologies in any interactions with investors. [1] Kleiman, Jamie Brigagliano , Benson Cohen and Ranah Esmaili.

Technology 189

Technology 189

Mckinsey and Company

MARCH 26, 2024

It’s time to raise investment and catch the next productivity wave.

106

106

Harvard Corporate Governance

DECEMBER 24, 2022

1] In addition, the final rules will require disclosure on Form N-PX of how institutional investment managers (“managers”) voted on “say-on-pay” matters. [2] 2] The final rules will be effective on July 1, 2024, covering votes occurring on or after July 1, 2023. more…).

230

230

NYT M&A

MARCH 16, 2024

TikTok’s turn in geopolitical cross hairs highlights the narrowing paths to liquidity for investments in Chinese companies.

Mergers & Acquisitions 120

Mergers & Acquisitions 120

Mckinsey and Company

APRIL 18, 2024

The demand for nature and biodiversity investments is growing—Saker Nusseibeh talks about how to meet clients where they are and encourage them to move forward with a long-term view.

90

90

Harvard Corporate Governance

JANUARY 12, 2024

household retirement accounts at the end of 2021 (Investment Company Institute, 2022). The Securities and Exchange Commission (SEC) requires mutual funds to provide the public with detailed information about their portfolio holdings and investment activities so mutual fund investors know how their money is being managed.

Equity 124

Equity Marketability 124

Harvard Corporate Governance

APRIL 1, 2022

There is evidence of social contagion of investment behavior in financial markets that does not derive from rational information processing. To better capture these dynamics, the Efficient Markets Hypothesis can be complemented by the Darwinian perspective of natural selection on investment strategies. more…).

Finance 206

Finance Marketability Technology 206

Harvard Corporate Governance

JULY 5, 2022

While such uncertainty could be an important barrier to sustainable investing, to date, little attention has been devoted to the role of ESG uncertainty in portfolio decisions and asset pricing. Our paper Sustainable Investing with ESG Rating Uncertainty (forthcoming in the Journal of Financial Economics ) aims to fill this gap.

Finance 220

Finance Equity Marketability 220

Harvard Corporate Governance

OCTOBER 25, 2022

The growing divide in the ESG regulatory landscape between states became clear with the passage of legislation in Maine and Texas in 2021, which adopted contradictory ESG policies for state pension fund investments. ideological interests. more…).

Banking 177

Banking 177

Harvard Corporate Governance

FEBRUARY 5, 2024

Posted by Amy D. Roy and Robert A. Skinner, Ropes & Gray LLP, on Monday, February 5, 2024 Editor's Note: Amy D. Roy and Robert A. Skinner are Partners at the Ropes & Gray securities litigation group in Boston. This post is based on their Ropes & Gray memorandum.

Marketability 218

Marketability 218

Business Wire M&A

JUNE 1, 2023

NEW YORK--(BUSINESS WIRE)--MGG Investment Group LP (“MGG”) today announced that it has made a debt and equity investment to support Access & Integrated Practice Holdings’ acquisition of United Medical Systems Inc. (“UMS”), Terms of the transaction were not disclosed.

Equity 98

Equity 98

Harvard Corporate Governance

JANUARY 18, 2023

Posted by Sandy Boss, John Roe and Jessica McDougall, BlackRock, Inc, on Wednesday, January 18, 2023 Editor's Note: Sandy Boss is Global Head of Investment Stewardship, John Roe is Head of Investment Stewardship (BIS) in the Americas, and Jessica McDougall is a Director at BlackRock Inc. Introduction. Introduction.

130

130

Harvard Corporate Governance

SEPTEMBER 13, 2022

on Tuesday, September 13, 2022 Editor's Note: Paul Bodnar is Global Head of Sustainable Investing and Elizabeth Kent is a Managing Director at BlackRock, Inc. This post is based on a comment letter submitted to the SEC regarding the proposed rules on ESG disclosures for investment funds and advisers by BlackRock. BlackRock, Inc.

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187

Harvard Corporate Governance

JULY 7, 2022

Posted by Dorothy Donohue, Susan Olson, and Eric Pan, Investment Company Institute, on Thursday, July 7, 2022 Editor's Note: Dorothy M. Pan is President & Chief Executive Officer of the Investment Company Institute. Donohue is Deputy General Counsel, Securities Regulation; Susan M. Olson is General Counsel; and Eric J.

Marketability 246

Marketability 246

N Contracts

FEBRUARY 28, 2024

Financial institutions spend a fortune on vendors and expect a return on their investment – yet it’s not always easy to calculate ROI. How do you know which vendors are delivering value and which ones are underperforming?

93

93

Mckinsey and Company

DECEMBER 18, 2023

Macroeconomic, technological, regulatory, market structure, and product changes mean corporate and investment banks must take new approaches to tackling the opportunities and challenges ahead.

Banking 120

Banking Technology Marketability Corporate Finance 120

Harvard Corporate Governance

JULY 24, 2022

Posted by Carine Smith Ihenacho, and Severine Neervoort, Norges Bank Investment Management, on Sunday, July 24, 2022 Editor's Note: Carine Smith Ihenacho is Chief Governance and Compliance Officer and Severine Neervoort is Senior Analyst, Corporate Governance at Norges Bank Investment Management. Ihenacho; Ms.

Banking 214

Banking Compliance Equity Marketability 214

ThomsonReuters

FEBRUARY 6, 2024

While utilizing  indirect tax software  to automate compliance tasks can help reduce risk and increase accuracy, it also requires an upfront investment that may seem cost-prohibitive. An investment in indirect tax automation upfront ensures that your business can scale and calculate tax accurately.

Compliance 98

Compliance 98

Auto Dealer Valuation Insights

MARCH 22, 2024

When we started writing about investment management in 2007, my colleagues and I went looking for materials on practice management and, in general, found nothing.

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