News

DOL acting quickly after Trump issues Executive Order on MEPs

SEC Commissioner Jackson seeks stock exchange reform

George Michael Gerstein to discuss ESG compliance considerations at upcoming ACA Compliance Group conference

I am happy to be speaking once again at the ACA Compliance Group Fall Conference in Scottsdale, Arizona on Oct. 5 to address ESG issues. Here is a description of the panel:

Navigating the Demand for Environmental, Social, and Governance (ESG) Policies
Client and investor focus on environmental, social, and governance issues has grown. As this demand continues, investment advisers seek to apply ESG standards to the investment process. Panelists will discuss how compliance intersects with ESG, and the roles compliance officers can expect to play when developing and maintaining an ESG program.

Proxy advisor conflicts – going forward

John Baker of Stradley’s Fiduciary Governance Group was interviewed by Ignites on the potential consequences of the recent SEC decision regarding the use of proxy advisors and why investment managers should be cautious.

Reforming the Fiduciary Standard

Investopedia has a worthwhile article that covers the latest on fiduciary rulemaking, whether that be with the SEC, DOL, FINRA or the states. Recent indications strongly suggest this debate is far from over.

Clayton reportedly moving quickly on Standards of Conduct vote

Politico Pro is reporting that SEC Commissioner Jay Clayton is looking to quickly finalize the rules on investment advice, which were proposed earlier this year. A vote on the rules could come as  early as the first part of 2019, per the report.

George Michael Gerstein to speak on ESG compliance issues in Phoenix

I am thrilled to be speaking at the upcoming ACA Compliance Group’s Fall 2018 Compliance Conference in Phoenix October 3-5. I will be on the following panel:

Navigating the Demand for Environmental, Social, and Governance (ESG) Policies
Client and investor focus on environmental, social, and governance issues has grown. As this demand continues, investment advisers seek to apply ESG standards to the investment process. Panelists will discuss how compliance intersects with ESG, and the roles compliance officers can expect to play when developing and maintaining an ESG program.

Here is a link to register.

Live Blogging: New York

I am here at The Harvard Club discussing what plan fiduciaries should consider when evaluating potential exposure to China A-shares. Some of the key issues I am outlining are:

1 – Indicia of ownership issues, particularly for non-US managers (ERISA plans)

2-Prudence considerations in light of foreign investor restrictions (e.g., forced sales) and language barriers when examining public disclosures (ERISA and governmental plans)

3 – Adherence to plan documents, including, but not limited to, the plan’s ESG policies (if any) (ERISA and governmental plans)

4- Fiduciaries should remember that A-shares are traded in renminbi (ERISA and governmental plans)

 

George Michael Gerstein to discuss ESG with a panel from Wellington and Brown Advisory

Join Boston BASIC (Building A Sustainable Investment Community), a consortium of Boston area SRI professionals, on Thursday, October 11th for a practical discussion of the considerations fiduciaries should take into account when incorporating environmental, social and governance factors into their investment process. The event will take place in Boston.

The discussion is hosted by George Michael Gerstein, Co-Chair Fiduciary Governance at Stradley Ronon, and joined by:

Hillary Flynn, ESG Analyst at Wellington Management

Mary Gregory, Sustainable Investing Specialist at Brown Advisory

The event is closed to the press.

Register here.

New Jersey will propose its own fiduciary rule

Expected to apply to “all New Jersey investment professionals.” More to come.