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“It’s this story about, you know, the dark side of ESG just being used for marketing purposes.” This week on the Financial Times’s Behind the Money, we hear from ESG whistleblower Desiree Fixler (w/ analysis from Patrick Temple-West) Listen here 🎧 link.chtbl.com/ftbehind-the-m…

A quick 🧵about PFOF: why @Public rejected it and what today's speech by Gary Gensler means.

An interesting look inside DAO start-up financing problems. "VC" invests in DAO through SAFT agreement. DAO tokenholders vote to cancel SAFT. DAO leadership steps in proposing a buy-out to avoid potential litigation.

Are index providers providing investment advice? sec.gov/news/press-rel…

Commissioner Allison Herren Lee is headed to NYU Law. More here: news.bloomberglaw.com/esg/secs-leadi…

One account cast 1mm of the total 1.15mm votes in favor of taking over the account. More generally token-voting is extremely unrepresentative due to: - No or low quorum reqs - Simple-majority decision rules and - Extremely low participation

"George McCain is a rising senior at The Lawrenceville School in Lawrenceville, New Jersey. He plans to study economics and computer science in college." and soon a Ph.D in finance?

Law schools offer some pretty silly classes—e.g., NYU had a "corporate governance seminar" about WeWork taught by current/former execs where the reading consisted of inspirational quotes (seriously). Maybe they should offer statistical literacy instead.

And likely one of the most consequential Acting Chairs in Commission history. Her leadership on ESG issues will influence policymaking for decades.

Econ research in a nutshell.

US regulators are expanding their crackdown on misleading labels of investment products with a probe focused on whether managers of funds marketed as sustainable are trading away their right to vote on ESG issues bloomberg.com/news/articles/… via Bloomberg

Posted: Custom Proxy Voting Advice, corpgov.law.harvard.edu/2024/05/23/cus… #corpgov

Empirical law and finance expert Edwin “Eddy” Hu, a former economic adviser to an SEC Commissioner who has already shaped the field, will join the #UVALaw faculty on July 1. Edwin Hu law.virginia.edu/news/202405/fi…

Institutional investors rely heavily on customized recommendations from proxy advisors. Customization helps funds express their ideologies and allocate attention effectively, from Edwin Hu, Nadya Malenko, and Jonathon Zytnick nber.org/papers/w32559

Prof. Edwin Hu’s co-authored paper analyzing how shareholders use customized proxy advice won the Northern Finance Association Best Paper Award in Corporate Finance. law.virginia.edu/news/202410/pr…