Bloomberg Law is reporting that the U.S. Chamber of Commerce recently announced a plan to educate board members on public policy issues, such as climate change, as a way to help “better arm” the boards for increasing shareholder engagement on these issues. Proxy voting and shareholder engagement, including the use of, and reliance on, proxy advisory firms, has come under greater scrutiny from the SEC and DOL recently.
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.