Insights

Securities and Exchange Commission Buidling

The Curious Case of the Hidden FAQ

SEC staff issued an FAQ regarding consideration of diversity, equity, and inclusion factors by investment advisers when selecting or recommending other investment advisers in compliance with an adviser’s fiduciary duty. The FAQ raises…

Paul Atkins and Paul Ray discuss the SEC’s Climate Rule in the Wall Street Journal

,
Patomak Global Partners' Paul Atkins and Paul Ray took to the Wall Street Journal to discuss the Securities and Exchange Commission's Climate Rule. In this article, they comment on the important step that the Supreme Court took to restore…

Cryptocurrency Investments Expand to 401(k) Accounts

An increasing number of investors are dipping their toes in the cryptocurrency markets. A recent survey found that one in five Americans have invested in, traded or used cryptocurrency. However, a major channel for U.S. investors – 401(k)…

Patomak Experts Discuss the SEC’s Proposed Climate Disclosure Rule

On March 21, the Securities and Exchange Commission (SEC) voted 3-1 to advance for public comment a proposed climate disclosure rule. Patomak’s Paul Atkins and Paul Ray teamed up with experts from Invariant on a webinar to analyze the proposal…

SEC Proposes Rules on Climate Disclosures

, ,
Background On 21 March, the U.S. Securities and Exchange Commission (“SEC”) held an open meeting to consider proposed rules which would require public companies to disclose additional climate-related information. The agency voted to officially…

ESG Developments

Patomak's Jamila Piracci and Ted Serafini highlight a few of the key themes from some of the comment letters that stakeholders have filed with the SEC in response to the March 2021 request for public input on the Commission’s existing climate change disclosure requirements and potential future changes to those requirements. They also provides additional considerations for how interested parties are likely to continue the dialogue with the Commission and its staff during the rulemaking process.

EU Exports ESG to the United States

As widely reported, the newly confirmed Chair of the Securities and Exchange Commission (SEC or Commission), Gary Gensler, is expected to put forth proposals around disclosure of environmental, social and governance (ESG) factors, beginning with climate risk disclosure. While the U.S. is in the early stages of its ESG journey, the European Union (EU) is much further along.

FIA: Diversity Unlocks Innovation

Jamila Piracci of Patomak Global Partners says diverse, inclusive teams bring new ideas and perspectives to a business.

NY Post: NY’s Pathetic Case Against Exxon is Outrageous Abuse of Prosecutorial Powers

Patomak Global Partners CEO Paul Atkins writes in a New York Post opinion piece, “The media have appropriately called out the hypocrisy of celebrities who rail about climate change but leave a huge carbon footprint. They should also call out New York’s attorney general, Letitia James, who is claiming to champion investors with an assault on ExxonMobil but may actually be hurting them, by forcing them to bear the cost of frivolous litigation — all the while, cloaking the true, underlying political goals.”

Sun Sentinel: Local Governments Should Resist the Urge to Sue Energy Companies, Claiming Their Products and Practices are a Public Nuisance

Luther Strange writes in an opinion piece, “As Florida begins to implement its new environmental plan, it is crucial that its city and county government leaders resist the temptation to short-circuit the policy process by turning to the courts.”

Morning Consult: Root Out This Rot: Special Interests in Attorneys General Offices

Patomak Senior Advisor Luther Strange opines, “Just as there is no free lunch in life, there’s no free legal support under this NYU scheme. Instead, these lawyers are paid for, and subject to influence by, special interests to pursue specific policy goals. In fact, under the agreements in question the State AG office must regularly report back to the NYU Center on the activities of the SAAG and must “collaborate” with the Center on public announcements relating to environmental issues the SAAG worked on. This arrangement exposes the heart of the problem. The NYU scheme allows climate activists to carry out their agenda under the authority of state governments, with zero transparency into who is paying for what.”
/
by
/
Tags:
/
By: Patomak Global Partners

Barron’s: ESG Investing Suffers a Setback in California

Barron’s reporter Vito Raccanelli writes “A funny thing happened recently in the left-leaning Golden State. In a board election last month, members of the California Public Employees’ Retirement System, or Calpers, the biggest pension fund in the nation, threw out their president and gave ESG investing a bloody nose… “It’s too early to tell if this election will have ramifications beyond Calpers,” says Paul Atkins, CEO of Patomak Global Partners and a Republican SEC commissioner from 2002 to 2008. “But a lot of funds are already using ESG, and investors don’t know to what extent they are using it.”
/
by
/
Tags: ,
/
By: Patomak Global Partners