Akin Gump has issued an alert detailing the background, key provisions, enforcement and penalties of the recently passed California Consumer Privacy Act. In addition, we outline proactive steps for businesses to take to protect themselves from the likely effects of the act.
This week, we highlight a report by the EY Center for Board Matters that analyzes independent directors who were elected by shareholders to the board of a Fortune 100 company for the first time in 2017. The research shows that companies are continuing to bring fresh and diverse perspectives into the boardroom, and enhancing the alignment of board composition with their forward-looking strategies.
Akin Gump has issued an alert detailing the Securities and Exchange Commission’s (SEC’s) proposed new interpretation of fiduciary duties of investment advisers under the Investment Advisers Act of 1940, as amended. The alert discusses how the SEC interprets the duty of care, the duty of loyalty, the ability to “disclose away” as well as potential additional requirements.
On April 9, 2018, Institutional Shareholder Services Inc. (ISS) launched a new online communications portal, the ISS Help Center, to provide a simplified interface for submitting questions to ISS Research. The new Help Center will be used for submitting questions and requests to ISS for a number of important subjects, including:
proxy voting and shareholder meeting research
QualityScore corporate profiles and methodology questions
research engagement requests
submissions and disclosures relating to company data
This week we highlight a report by ACCA on the difference one year makes in auditor reporting standards since the IAASB’s changes. The analysis looks across the implementation of the new standards in eleven countries and draws upon a detailed analysis of 560 new-style audit reports and feedback from roundtables, at which stakeholders gave their perspectives on the new reports.
This week we highlight a report by BDO’s Center for Corporate Governance and Financial Reporting on a variety of topics that corporate management and boards of directors should be prepared to address in connection with their 2018 annual meetings. The main issues include the impact of efforts by the current administration regarding taxes and deregulation, as well as corporate accountability and compliance concerns.
Akin Gump has issued an alert on SEC guidance regarding disclosure of material cybersecurity risks and incidents to investors, comprehensive policies and procedures related to cybersecurity risks and insider trading policies of public companies that should address and protect against misuse of nonpublic information related to cybersecurity risks.