Domini Executive Selected for SEC Investor Advisory Committee
Domini Social Investments’ Managing Director and General Counsel, Adam Kanzer, has been selected to join the Securities and Exchange Commission’s Investor Advisory Committee (IAC), created under the Dodd-Frank financial reform Act. He served on the SEC’s inaugural Investor Advisory Committee, which was disbanded in 2010 after passage of the Act. The 21-member committee was established to provide the SEC with the views of a broad spectrum of investors on the SEC’s regulatory agenda. Mr. Kanzer participated in the IAC’s first meeting on June 12.
Prior to the IAC appointment, Domini met with SEC Commissioner Luis Aguilar and SEC Chairman Mary Schapiro to discuss the priorities of the social investment community, including swift passage of Dodd-Frank provisions addressing excessive executive compensation, and two provisions relating to peace and government corruption – a provision requiring companies to disclose the sourcing of ‘conflict minerals’ from the war-torn Congo, and disclosure of corporate payments to foreign governments in connection with the extraction of natural resources.
During our meetings, we also asked the Commission to act on a pending rulemaking petition seeking disclosure of the use of corporate resources for political purposes. The petition has broken the record for public comments, with more than 250,000 people writing in support. Domini also reached out to shareholders of the Domini Funds, with an Action Alert.