AMAC, in its report, also cited an eye-opening 2017 statistic from the Government Accountability Office – the auditing arm of Congress: less than 1 percent of global assets under management, then $70 trillion, was managed by women- and minority-owned asset management firms.
To help move the needle on that 1 percent diversity statistic, we must do more. I strongly believe the Commission must consider whether AMAC’s four recommendations can be fully implemented, at the Commission level. If that isn’t possible, I believe it is our responsibility to the public to explain why.
Beyond AMAC’s recommendations, the Commission just released its Spring 2022 rulemaking agenda. That agenda includes planned rules relating to enhanced board diversity and human capital management disclosures. These rules, if proposed, represent an opportunity for investors to benefit from more meaningful, standardized and transparent diversity-related disclosures that would help them make more informed investment decisions.
‘Enforcement 40’ for 2020
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