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Articles 1 - 6 of 6
Full-Text Articles in Law
Comment On Proposed Regulation: Prudence And Loyalty In Selecting Plan Investments And Exercising Shareholder Rights, David H. Webber
Comment On Proposed Regulation: Prudence And Loyalty In Selecting Plan Investments And Exercising Shareholder Rights, David H. Webber
Shorter Faculty Works
In my view, while it is a significant improvement over its predecessor, the proposed rule’s persistent relegation of job creation/preservation to the status of mere “collateral benefit” is a mistake and undermines ERISA’s duty of loyalty. In reality, job creation and preservation are inextricably linked to fund financial health. Relegating that fact to a mere collateral benefit means trustees fail to consider the effect on a pension of investing in projects that eliminate the jobs of the fund’s own participants, or ignore the benefit of creating new jobs and thereby new pension contributors. This runs counter to President Biden’s executive …
Do Esg Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson
Do Esg Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson
All Faculty Scholarship
Corporations have received growing criticism for their role in climate change, perpetuating racial and gender inequality, and other pressing social issues. In response to these concerns, shareholders are increasingly focusing on environmental, social, and corporate governance (ESG) criteria in selecting investments, and asset managers are responding by offering a growing number of ESG mutual funds. The flow of assets into ESG is one of the most dramatic trends in asset management.
But are these funds giving investors what they promise? This question has attracted the attention of regulators, with the Department of Labor and the Securities and Exchange Commission (SEC) …
Esg Investing: May Erisa Plan Fiduciaries Consider Environmental, Social, And Governance Factors When Making Investment Decisions?, Morgan Fox
SLU Law Journal Online
ERISA fiduciaries have long sought guidance from the DOL as to whether environmental, social, and governance (ESG) factors may be considered in their investment decision-making. In 2020, the DOL issued a final rule requiring ERISA fiduciaries to consider solely pecuniary factors. In this article, Morgan Fox discusses a recently proposed rule under the new Administration that eases the restrictions and provides greater leeway for ERISA plan fiduciaries to consider ESG factors.
Defining Who Is An Employee After A.B.5: Trading Uniformity And Simplicity For Expanded Coverage, Edward A. Zelinsky
Defining Who Is An Employee After A.B.5: Trading Uniformity And Simplicity For Expanded Coverage, Edward A. Zelinsky
Catholic University Law Review
A.B.5 made a significant but limited expansion of the coverage of California labor law but at a notable cost. Even as A.B.5 broadened the reach of the Golden State’s labor protections, A.B.5 also made the definition of “employee” more complex and less uniform. Those seeking federal or state legislation like A.B.5 confront the same trade-off under which greater coverage is achieved at the expense of more complexity and less uniformity in the definition of who is an employee. The same political forces and policy considerations which molded A.B.5 in California will have similar effects in other states and in the …
Tran V. Minnesota Life Insurance Co., Thomas Gawel
Tran V. Minnesota Life Insurance Co., Thomas Gawel
NYLS Law Review
No abstract provided.
The Future Of Disclosure: Esg, Common Ownership, And Systematic Risk, John C. Coffee Jr.
The Future Of Disclosure: Esg, Common Ownership, And Systematic Risk, John C. Coffee Jr.
Faculty Scholarship
The U.S. securities markets have recently undergone (or are undergoing) three fundamental transitions: (1) institutionalization (with the result that institutional investors now dominate both trading and stock ownership); (2) extraordinary ownership concentration (with the consequence that the three largest U.S. institutional investors now hold 20% and vote 25% of the shares in S&P 500 companies); and (3) the introduction of ESG disclosures (which process has been driven in the U.S. by pressure from large institutional investors). In light of these transitions, how should disclosure policy change? Do institutions and retail investors have the same or different disclosure needs? Why are …