SEC Chairman Gary Gensler Embarks On Ambitious Regulatory Agenda

The Securities and Exchange Commission (SEC) is meeting Wednesday, February 9, to begin discussion on a slate of roughly 50 proposed rule changes it is considering, with a handful in the final regulatory stage that could be adopted soon. Proposals include those on (ESG) matters; buybacks; insider trading and executive compensation; trading activities; private equity and hedge fund disclosures; and investor protection.

Poised for change? Boardroom Diversity Survey

KPMG Board Leadership Center: Recent progress—and the continued push—toward greater boardroom diversity comes at a pivotal time for corporate America. The ability to challenge long-held assumptions; understand megatrends; and effectively calibrate strategy, risk, and talent in the context of heightened stakeholder expectations puts a premium on thinking differently.

>Read More: Boardroom Diversity Survey

Institutions Widely Support DOL's Proposed ESG Rule: Report

A vast majority of institutions support a proposed rule from the U.S. Department of Labor (DOL) that would explicitly permit retirement plan fiduciaries to consider environmental, social, and governance (ESG) factors when selecting investments and exercising shareholder rights, according to a new report examining comment letters and cited by Pensions & Investments (Jan. 26, Croce). Major asset managers, including State Street Global Advisors and BlackRock, submitted comment letters in support of the proposal. "The strong support for the proposed rule by our members and other financial institutions and corporations demonstrates the broad understanding that ESG data are important considerations when making investment decisions in retirement plans," said Lisa Woll, CEO of US SIF: The Forum for Sustainable and Responsible Investment.

Op-ed: Shareholders Should Act More Aggressively on Boardroom Diversity in 2022. Here’s Why

From CNBC, "While companies have made progress in bringing diverse voices to the boardroom, there is still a long way to go. Society is diverse, and companies need to reflect this." At Goldman Sachs Asset Management, they're taking measures to implement greater board diversity standards in the US, "as shareholders we can encourage companies to set ambitious diversity goals and hold them accountable for meeting these ambitions."

Why Building a Diverse Board Can Maximise Your Bottom Line

Many corporations are acutely aware their boards lack diversity and of the message this sends to the public. At Fortune 500 companies, 82.5 per cent of board members are white, according to the ‘Missing Pieces Report: A Board Diversity Census of Women and Minorities on Fortune 500 Boards’. Only 8.7 per cent are Black, 4.6 per cent are Asian/Pacific Islander and 4.1 per cent are Hispanic/Latino.

>Read More: Increasing Diverse Leadership

The Time is Now for California Companies to Focus on Diversity

In 2022, companies will continue to grapple with implementing diversity initiatives at their organizations. Recent California legislation will shape the direction these initiatives are likely to take.

LCDA Partner, CNBC’S Equity and Opportunity Forum: Making Meaningful Change | March 10 at 2pm ET

CNBC’s Equity and Opportunity Forum gathers leaders and experts who are managing differently, narrowing the wage gap, creating new pathways to wealth and expanding the talent pool in innovative ways, resulting in meaningful change on the individuals and for society as a whole.

Featured speakers include: LCDA Member and Pinnacle Group Founder and CEO, Nina Vaca, alongside Emmanuel Acho, Author and Former NFL Player; Brian Lamb, JPMorgan Chase Global Head of DEI; and Flori Marquez, BlockFi Founder and SVP of Operations.

>Register Here: https://bit.ly/3g2HrsE

From Hispanic Executive, Anilu Vazquez-Ubarri is an active member of the Latino Corporate Directors Association (LCDA), an organization that TPG sponsors. The CHRO looks to LCDA as a vital source for education and networking opportunities for those looking for their first board roles.

There’s also a more informal effect that Vazquez-Ubarri says is just as important, if not more so. “Supporting organizations like the LCDA and being active helps me keep the names of people I think might be a good fit for roles at the ready,” Vazquez-Ubarri explains. “When I get a call asking to sit on a board, I’ve got a list of five or six people I think they should contact. It’s a chance for me to play matchmaker and advance the mission of both myself and the organization.”

>Read More: Latinos Belong in the Boardroom

We're celebrating Black History Month by spotlighting six trailblazing Afro-Latino LCDA Members you need to know

Adela Cepeda; Juan Figuereo; Maybel Marte; Julio Portalatin; Debra Sandler; and Anilu Vazquez-Ubarri.

>Connect with our Members

In the fall of 2021, National Association of Corporate Directors (NACD), with Heidrick & Struggles and Sidley Austin, brought together nominating and governance committee chairs from Fortune 500 companies to reflect on the progress made over the past year on board diversity and to discuss the opportunities for improvement. During the meeting, they also had a conversation with leaders from Aspire Ascend Pinnacle, C200, The Executive Leadership Council, and Latino Corporate Directors Association. The group discussed taking a new approach to recruiting, being intentional about diversity and inclusion, and the current state of board diversity.

LCDA partnered with USHCC, VCFamilia, NAIC, LatinxVC, Latino Donor Collaborative (LDC), and Angeles Investors to respond to the data coming out highlighting Latinx Founder funding at the early stage dropped from 1.5% (2020) to 1.2% (2021).

Jorge Zamanillo Named new founding director of The Smithsonian's Museum of the American Latino. The new museum was established by Congress in December 2020. His appointment is effective May 2. “The Latino experience is American history, and I want to make sure our story will be preserved for future generations."

Alejandro Roark leaves HTTP to join the Federal Communications Commission (FCC) as the new Bureau Chief for Consumer and Governmental Affairs.

>Read More: Announcement from FCC

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