•   
  •   
  •   

Politics Menendez reintroduces corporate diversity bill

21:46  23 february  2021
21:46  23 february  2021 Source:   thehill.com

With Chris Harrison Gone Amid Racial Controversy, ‘The Bachelor’ Aims to Salvage Historic Season

  With Chris Harrison Gone Amid Racial Controversy, ‘The Bachelor’ Aims to Salvage Historic Season The cycle with the first Black Bachelor now derailed, the ABC reality series must grapple with how to move forward without the face of the franchise.After 19 years, Chris Harrison has stepped aside from the remainder of this season’s hosting duties following controversial comments that lent support to the contestant who has emerged as the frontrunner for star Matt James. The offscreen development, which Harrison announced over the weekend, leaves the cycle with the first-ever Black Bachelor rudderless as it heads toward its conclusion next month, and also casts a cloud over a year that was meant to set right the franchise’s diversity woes.

Sen. Bob Menendez (D-N.J.) on Tuesday reintroduced legislation that would require public companies to disclose the racial, ethnic, gender and veteran composition of their corporate boards and senior management.

a group of people standing next to a person in a suit and tie: Sen. Bob Menendez (D-N.J.) © Greg Nash Sen. Bob Menendez (D-N.J.)

The bill, the Improving Corporate Governance Through Diversity Act of 2020, aims to address shortcomings in the U.S. Securities and Exchange Commission's diversity disclosure rule.

"For too long corporate America has fallen short in racial, ethnic and gender diversity. Without greater diversity in top corporate positions, the U.S. will fail to compete with other leading economies and stall our nation's progress towards full inclusivity," said Menendez, the highest-ranking Latino in Congress.

Democrats debut sweeping immigration reform bill

  Democrats debut sweeping immigration reform bill Democrats are introducing an extensive immigration bill Thursday that has the backing of the White House and the potential to overhaul decades of existing policy while creating an “earned roadmap” to citizenship for millions illegally residing in the United States. © Provided by Washington Examiner Sen. Robert Menendez of New Jersey and Rep. Linda Sanchez of California are slated to unveil the sweeping piece of legislation Thursday as the Biden administration grapples with a mounting crisis on the southern border as thousands of migrants are turned away or released into the U.S. each day.

The House passed this legislation in 2019, which was introduced by Rep. Gregory Meeks (D-N.Y.), but it was not taken up in the Senate. It could face an uphill battle with the tight 50-50 partisan divide in the Senate.

The bill would also require the Treasury Department's Director of the Office of Minority and Women Inclusion to publish a report to the SEC every three years, including best practices and compliance. It would establish a Diversity Advisory Group to study the status of corporate diversity and to submit annual reports to Congress.

Nine Democrats have co-sponsored the bill, including Senate Banking Committee Chairman Sherrod Brown (Ohio) and Sens. Elizabeth Warren (Mass.), Chris Van Hollen (Md.), Cory Booker (N.J.), Dianne Feinstein (Calif.) and Alex Padilla (Calif.).

Biden wades into immigration morass that has stymied other presidents

  Biden wades into immigration morass that has stymied other presidents President Biden is hoping to succeed where the last three presidents have failed by proposing his own legislation revamping immigration. © Provided by Washington Examiner While diametrically opposed to former President Donald Trump’s approach, the Biden-backed immigration bill follows in the footsteps of unsuccessful pushes by Presidents George W. Bush and Barack Obama to increase legal immigration and offer a pathway to citizenship for most illegal immigrants in the United States.

The U.S. Chamber of Commerce has also endorsed the bill.

"Diversity has become increasingly important for good corporate governance and the Improving Corporate Governance Through Diversity Act will establish a model to organically boost diversity on boards through disclosure rather than the counterproductive quota-driven strategies that some have attempted," said Tom Quaadman, executive vice president of the Chamber's Center for Capital Markets Competitiveness.

Other groups - including the National Urban League, Nareit, Financial Services Forum, American Bankers Association, International Council of Shopping Centers, Bank Policy Institute and Real Estate Roundtable - also support the legislation.

These trade groups endorsed the bill last Congress, and in July sent a letter to Senate Banking Committee then-Chair Mike Crapo (R-Idaho) and Sen. Sherrod Brown (Ohio), arguing that the legislation would organically boost diversity on boards through disclosure.

Gensler: SEC should consider corporate political spending disclosures .
Corporate disclosure was a dominant theme and key tension at Gensler's confirmation hearing.At a Senate confirmation hearing, Sen. Bob Menendez (D-N.J.) asked the nominee for the SEC's chair role whether political contributions by publicly traded companies represented "material" information to investors and should be disclosed. In response, Gensler said there was growing investor appetite for the information.

usr: 10
This is interesting!