Corporate Governance | Page 5 | Business Roundtable

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What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

As business leaders representing every sector of the economy, Business Roundtable members uphold the highest standards of ethics, integrity and sound governance. Our CEO members represent the very best in responsible corporate citizenship, supporting jobs and long-term economic opportunity in communities across the United States.

Comments on Regulation

A Car and Brakes: Risk Management is NOT Risk Avoidance

Why do cars have brakes?

Intuitively, you’re probably thinking: “So the driver can stop the car.”  But, think about it from a different perspective.  When you get in a car, it’s stopped, so you don’t really need the brakes to stop it.  Instead, it seems the real purpose of brakes is to allow the driver to make the car go fast.  After all, would you get in a car and drive it if you knew it didn’t have brakes?

BRT Letter to the SEC on Staff Decisions Regarding Shareholder Proposals

We write with respect to recent developments involving the shareholder proposal process and the significant disruptive effect these developments are having on companies, boards of directors and shareholders.

Ninth Circuit Ruling to Broaden Class-Action Certification Ignores Clear Supreme Court Precedent

Business Roundtable has joined the U.S. Chamber of Commerce in an amicus brief in Allstate Insurance v. Jimenez, asking the U.S. Supreme Court to review a Ninth Circuit Court of Appeals ruling that could “dramatically increase the class-action exposure” faced by business.

Ensuring Business Has Best Tools to Manage Risk, Boost Economy

The Coalition for Derivatives End-Users is wrapping up its annual summit, drawing attention to the need for measured and reasonable regulation of derivates so U.S. companies can effectively manage risk.

Letter to Federal Reserve on Enhanced Prudential Standards

BRT has serious concerns about the governance provisions in the Federal Reserve Board’s proposal, which would require GECC’s board of directors to include a minimum of two members who are independent of GE and GECC management and independent of GE’s board of directors.

BRT Letter in Response to Recent SEC Announcements on Conflicting Proposals

The SEC's announcement has already and will continue to significantly affect board deliberations at companies that intended to seek exclusion of stockholder proposals because the board had planned to submit a company proposal on the same topic.

Amicus brief in Wal-Mart Stores Inc. v. Trinity Wall Street

An important function of the API, BRT, and the Chamber (collectively, “amici curiae”) is to represent the interests of their members in matters before Congress, the Executive Branch, and the courts. To that end, the amici curiae regularly file briefs in cases raising issues of concern to the nation’s business community.

At Davos, So Many Topics for Business Leaders

As always, this week's meeting of the World Economic Forum at Davos, Switzerland, offers journalists a wealth of interview possibilities, including sit-downs with CEOs of major global companies who also are members of Business Roundtable.

From CNBC, here's a collection of the most recent interviews, covering a wide range of topics from Aetna's plans to raise its employees' wages, to net neutrality, to the necessity of tax reform and educational quality to improve economic growth. 

We'll add more citations as they come in.

Legislation Lets Companies Better Manage Risk

The Dodd-Frank Act was passed with the intent of exempting companies outside the financial services business from margin and clearing requirements when these companies use derivatives to manage and reduce business risk, rather than taking speculative risk.  Of course, for these companies – known as end-users – the devil turned out to be in the details.

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Committee Priorities

Corporate Governance

Business Roundtable promotes best practices in corporate governance that focus on long-term value creation, advance the economic interests of workers, shareholders and consumers, and uphold the highest ethical standards. America’s business leaders set the standard for effective, ethical corporate governance in the Business Roundtable Principles of Corporate Governance.

In a forthcoming update to the Principles, the CEOs of Business Roundtable are increasing their emphasis on promoting diversity in the boardrooms of U.S. public companies. Read more about their commitment here.

Smart Financial Regulation

Overly complex and burdensome U.S. financial laws and regulations hamper the ability of U.S. companies to invest and hire, without sufficient compensating social benefit. In particular, several provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act impose needless requirements that do not result in real economic benefit for American workers and families.

Business Roundtable supports smart financial regulation – including improvements to Dodd-Frank – that encourage greater investment and advance America’s competitiveness in the global economy.

Read more about our work to improve Dodd-Frank.

Shareholder Engagement

Business Roundtable believes enhanced, direct engagement with shareholders who are interested in a company’s long-term value is beneficial to both the business and its investors. Business Roundtable supports reform of disclosure requirements that would better allow companies to provide investors with the material information needed to make effective long-term investment and voting decisions.