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SEC Division of Corporation Finance Acting Director John Coates participated in a fireside chat on April 7, 2021 during the annual Global Capital Markets & the US Securities Laws program hosted by the Practicing Law Institute (PLI).
Acting Director Coates, when asked about his priorities at the SEC, mentioned three items: the “unprecedented surge” in special purpose acquisition company (SPAC) filings, reporting company ESG disclosures (including disclosure of climate change and potentially political spending), and improvement of the proxy voting system (commonly referred to as “proxy plumbing”).
With respect to ESG issues on a global scale, Acting Director Coates provided insight into the International Organization of Securities Commissions’ recent statement announcing the creation of a Technical Expert Group co-led by the SEC to undertake an assessment of the recommendations to be developed as part of the IFRS