Spotlight on Short and Long-Term Management of Public Companies

The SEC’s Division of Corporation Finance will host a roundtable on July 18, 2019 to hear from investors, issuers, and other market participants about the impact of short-termism on our capital markets and whether our reporting system, or other aspects of our regulations, should be modified to address these concerns.

Agenda and Panelists

• 12:30 p.m. ET | Opening Statements

• [+]1:00 p.m. ET | Panel One: Impact of a Short-Term Focus on Our Capital Markets

  The panel will explore the causes and impact of a short-term focus on our capital markets, and seek to identify potential market practices and regulatory changes that could encourage long-term thinking and investment.

  Panelists

  • Timothy Cohen, Co-Head, Equity Division, Fidelity Investments
  • Keir D. Gumbs, Deputy Corporate Secretary, Uber Technologies, Inc. 
  • John A. Hayes, Chairman, President, and Chief Executive Officer, Ball Corporation
  • David A. Katz, Partner, Wachtell, Lipton, Rosen & Katz
  • F. William McNabb III, Former Chairman and Chief Executive Officer, The Vanguard Group, Inc.
  • Mark J. Roe, David Berg Professor of Law, Harvard Law School
  • Brian Tomlinson, Research Director, Strategic Investor Initiative, Chief Executives for Corporate Purpose
  • Sarah Williamson, Chief Executive Officer, FCLTGlobal

  Moderators

  • William Hinman, Director, Division of Corporation Finance
  • Shelley Parratt, Deputy Director, Division of Corporation Finance

• 2:30 p.m. ET | Break

• [+]2:45 p.m. ET | Panel Two: Our Periodic Reporting System’s Role in Fostering a Long-Term Focus

  The second panel will focus on our periodic reporting system and discuss what specific regulatory changes to that system could be implemented to foster a longer-term focus in our periodic reporting system.

  Panelists

  • Julie Bell Lindsay, Executive Director, The Center for Audit Quality
  • Stacey Geer, Executive Vice President, Chief Governance Officer, Deputy General Counsel and Corporate Secretary, Primerica, Inc. (representing the Society for Corporate Governance)
  • Nicolas Grabar, Partner, Cleary Gottlieb Steen & Hamilton
  • Steven Jacobs, Partner, Ernst & Young  
  • Jeff Mahoney, General Counsel, Council of Institutional Investors
  • Don W. Pontes, Jr., Investment Director - Financial Markets, Sustainable Investments, CalPERS Investment Office
  • Rory Sabino, Vice President, Investor Relations, Continental Resources, Inc. 
  • John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group
  • John Zecca, Senior Vice President, General Counsel North America and Chief Regulatory Officer, Nasdaq

  Moderators

  • Kyle Moffatt, Chief Accountant, Division of Corporation Finance
  • Luna Bloom, Chief, Office of Rulemaking, Division of Corporation Finance