Cabinet News & Views

In This Issue ...

Tomorrow is Earth Day, the annual celebration − since 1970 − of our planet and the opportunity to come together to support positive action to protect the environment for generations to come.

Perhaps it is fitting, then, that the SEC's recently proposed climate-risk disclosure requirements are still in the news and still a focal point of this week's newsletter. Be sure to take a look at Michael Ruder's update story.

What do you think about this week's topics and Cabinet News and Views in general? We’d love to hear from you. Just write to us here.

Daniel Meade & Michael Sholem
Co-Editors, Cabinet News and Views

SEC Climate Proposal: Industry Groups Pile In to Push Back on SEC’s Short Comment Period, as Senators Speak Out

By Michael J. Ruder

Special Counsel | Capital Markets

Numerous industry groups have asked the SEC to extend the comment period for the SEC’s recently proposed climate-risk disclosure requirements.

By Daniel Meade

Partner | Financial Regulation

Last week, President Biden announced that he intends to nominate Michael Barr as Vice Chair for Supervision on the Board of Governors of the Federal Reserve System.

By Joanna Valentine

Partner | Corporate

By Camillo Di Donato

Associate | Corporate

The UK Financial Conduct Authority has published its final policy decision on disclosure regarding diversity and inclusion targets for boards of directors and executive committees of certain UK-listed companies.

By James McDonnell

Associate | Financial Services

Most U.S. lenders are familiar with the need to file a Uniform Commercial Code financing statement to perfect a security interest in collateral. Most lenders are also aware that financing statements must be updated if the debtor changes its name, changes its jurisdiction of organization, etc. However, when a debtor converts from one entity type to another (e.g., a corporation converts to a limited liability company), a technical difficulty arises that many lenders would find difficult to navigate. Unfortunately, the consequences may include loss of perfection or priority of the lender’s security interest.