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A Response to Last Week’s Corp Fin Interps: BlackRock Stops All Scheduled Engagement!

As noted in the Cooley Alert from Brad Goldberg, Beth Sasfai, Reid Hooper and Michael Mencher that I blogged about yesterday, Corp Fin issued guidance last week that some thought could alter the nature of shareholder engagement going forward. As noted in this brief news article, BlackRock has cancelled all scheduled shareholder engagements with companies – the article says “temporarily” and that is all we …

Corp Fin Issues New Guidance on Shareholder Proposals and Engagement

Here’s the intro from this Cooley Alert from Brad Goldberg, Beth Sasfai, Reid Hooper and Michael Mencher: “On February 11 and 12, 2025, the staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission (SEC) provided a pre-Valentine’s Day treat for public companies and shareholders to digest in the form of two new significant sets of guidance with the potential to …

Whoa! ISS Updates Its Voting Policies (Again) to No Longer Consider Board Diversity

In a rare move to update its voting policies in the midst of proxy season, ISS issued this press release stating it will no longer consider a board’s gender, racial or ethnic diversity when making director election recommendations. This policy change applies to the US benchmark and specialty policies of ISS – and apply to shareholder meeting reports published on or after February 25th. ISS …

Climate Disclosure: SEC’s Acting Chair Requests That Eighth Circuit Hold Off on Scheduling Argument

The SEC’s Acting Chair Mark Uyeda released this statement yesterday indicating that the agency has requested that the Eighth Circuit – where the cases challenging the SEC’s 2024 climate disclosure rules are consolidated – not schedule the case for argument until the SEC figures out its position under a new Commission composition. In other words, once incoming SEC Chair Paul Atkins is confirmed by the …

New Administration Orders Repeal of 10 Regulations If One New Regulation Is Proposed or Adopted

Recently, the new administration issued this executive order mandating that federal agencies identify at least 10 regulations to be repealed if that agency proposes or adopts a new regulation, per Section 3 of the order. Section 5 defines “regulation” broadly to cover rules, regulations, policy statements and guidance. This is similar to the last time President Donald Trump was in office – except back then, …

BlackRock and Vanguard Update Their Proxy Voting Guidelines

Here’s the intro from this Cooley Alert penned by a bevy of our finest: “On January 31, 2025, Vanguard issued its proxy voting policy for US portfolio companies, following the publication of BlackRock’s proxy voting guidelines for benchmark policies – US securities in December 2024. The updates from these two leading institutional investors introduce new provisions to reflect evolving perspectives on governance, compensation, sustainability and …