“The SEC’s rule demonstrates a failure to comprehend that [Environmental, Social and Governance] issues, including climate change, increasingly have material impacts on company value,” said Andrew Behar of As You Sow, a nonprofit, ESG-issue expert that often represents shareholders on a range of material issues. “The commission’s rule will actively impair the right of retail shareholders to communicate publicly with their companies on these critical issues.”
As for the whistleblower proceedings, commissioners voted 3-2 to approve the amendments, with Herren Lee and fellow Democratic member Caroline Crenshaw opposing.
Those in favor said the new rules would add clarity to the SEC’s decade-old whistleblower program and bring efficiency and transparency to the award-determination process. Read Full Article - MarketWatch, July 20, 2020