where checking accounts rebuild communities
Back to homepageInstitutional ReportsSRI Financial Professionals DirectoryToolsNewsSRI Performance and TrendsAbout Us   

April 11, 2012
SEC Reconvenes Investor Advisory Committee
    by Robert Kropp

The Committee, which was formed in 2009 and terminated after passage of the Dodd-Frank bill, again includes representatives of the sustainable investment industry.

The Securities and Exchange Commission (SEC) originally created an Investor Advisory Committee in the aftermath of the financial crisis. Included among the priorities of the members of the committee was "a push for mandatory reporting," as Adam Kanzer, Managing Director and General Counsel of Domini Social Investments, told in 2009. "Things have been changing globally during the last ten years, and governments have stepped in to mandate environmental, social, and governance (ESG) reporting."

In addition to Kanzer, the original committee included two other members of US SIF: The Forum for Sustainable and Responsible Investment: Mellody Hobson of Ariel Capital Management and Hye-Won Choi of TIAA-CREF.

The original Investor Advisory Committee was terminated in 2010, after passage of the Dodd-Frank financial reform bill "established the new committee to advise the Commission on regulatory priorities, the regulation of securities products, trading strategies, fee structures, the effectiveness of disclosure, and on initiatives to protect investor interests and to promote investor confidence and the integrity of the securities marketplace," according to the SEC.

On Monday, the SEC announced the formation of the new Investor Advisory Committee. Kanzer and Hobson are again among its 21 members, as are Anne Sheehan of CalSTRS, Joseph Dear of CalPERS, and Ann Yerger of the Council of Institutional Investors (CII).

The committee "will begin its work in the near future," the SEC stated. While it may be too early to tell if the committee will build upon the framework of its predecessor, the original committee featured such potentially constructive accomplishments as the formation of an Investor as Shareholder Subcommittee.

Chaired by Stephen Davis of Yale School for Management's Millstein Center for Corporate Governance, the subcommittee intended to address several issues of concern to sustainable investors, including corporate disclosure, a majority voting standard, and the role of proxy advisory firms.


| Reports | SRI Financial Professionals Directory | Tools | News | SRI Performance and Trends | About Us | Contact
© SRI World Group, Inc. - All rights reserved
Terms of use - Privacy Policy - OneReportTM Network