Park & Dibadj, LLP

12/31/2021

Do these new executive staff appointments suggest the is going to increase its enforcement activities?

Press Release Chair Gensler Announces Additions to Executive Staff FOR IMMEDIATE RELEASE 2021-270 Washington D.C., Dec. 30, 2021 — The Securities and Exchange Commission today announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chair Gary Gensler’s...

11/11/2021

On Wednesday, November 17 at 7:00 pm Pacific time, Doug will speak on a panel about Blockchain Technology sponsored by the Executive MBA program at St. Mary's College of California, School of Economics & Business Administration.

Register at https://stmarys-ca.zoom.us/meeting/register/tJIqcOmoqjIoHNUq1d-EgybIEe7i69YcyXqO?_x_zm_rtaid=F6AHWSnPT7iPecj8UihRPA.1636651993223.d599f5208915e1b74472fa90affe6add&_x_zm_rhtaid=790

11/02/2021

On Tuesday, November 9, Mark Sickles I will present an "Introduction to the Total Capital Management™ Movement: A New Paradigm for Creating Sustainable Shareholder and Stakeholder Value" to the Harvard Club of Silicon Valley and the Harvard Business School (HBS) Association of Northern California.

Description:
Imagine all line managers in your firm are masters at Total Capital Management (TCM) – the formation, allocation, utilization, and dynamic reallocation of all types of capital. Make the fundamental shift in governance, leadership, and management -- from intradisciplinary to interdisciplinary -- a shift that’s needed to optimize sustainable value creation for shareholders and all other valued stakeholders.

This webinar is your introduction to the TCM Movement in which you’ll learn how to push the old-fashioned, intradisciplinary approach to capital management into your past and pull the breakthrough, interdisciplinary TCM approach from your future into your present.

Register at the Harvard Club of Silicon Valley events page:
https://lnkd.in/g_YWMZsY

or at the HBS Association of Northern California website:
https://lnkd.in/gTsZwsyn

Introduction to Total Capital Management: A New Paradigm for Creating Sustainable Shareholder and Stakeholder Value

10/22/2021

Stating the obvious with an air of discovery.

Quoting:

Financial bubbles will form as investors scramble to make deals in the sustainability space, according to Tim Adams, the president and CEO of the Institute of International Finance.

Speaking during a panel at CNBC’s Sustainable Future Forum on Thursday, Adams said it was inevitable that the current drive toward ESG (environmental, social and governance) would create assets that exceeded their fundamental value.

“There’s always bubbles, it’s a lesson of history. Anyone who thinks we won’t have it is naïve,” he said.

Tim Adams, president and CEO of the Institute of International Finance, told CNBC it was naïve to think there wouldn’t be bubbles created by green investment.

10/06/2021

CFOs getting more involved in efforts. This can be a good thing, if done correctly.

Quoting:

Chief finance officers of more than 60 international companies have linked roughly half of their companies' financing to environmental, social, and governance (ESG) goals. All are part of a UN task force pledged to tie half of all financing to ESG targets by 2025, reports the Wall Street Journal.

The companies, including Verizon Communications Inc, Anheuser-Busch InBev SA, and energy company Enel SpA have all signed on to tie about half their debts, which include corporate bond issuances, to sustainability goals. Currently, the debt linked collectively sits at 27% as of the end of last year.

ETFs Chief Finance Officers Pledge to Tie Debt to Sustainability Published Sep 27, 2021 4:44PM EDT Chief Finance Officers Pledge to Tie Debt to Sustainability | NASDAQ Chief finance officers of more than 60 international companies have linked roughly half of their companies' financing to environment...

09/24/2021

The Chinese ban on crypto transactions may have a smaller effect on crypto prices than you might think.

Quoting:

Crypto-related transactions will be considered illicit financial activity, including services provided by off-shore exchanges, the People’s Bank of China said on its website. It added that cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated. …

“News out of China definitely impacts markets because it can shake market sentiment, but the actual effect of another Chinese ban has minimal impact on underlying market structure at this point,” she said.

China banned on all crypto transactions and vowed to root out mining of digital assets, delivering the toughest blow yet to the industry.

09/22/2021

Doug was at SASB (now Value Reporting Foundartion). Value Reporting Foundation) in the relatively early days when it was making the case for companies to use our standards.

The Value Reporting Foundation today announced that more than half of the companies…

09/21/2021

The SEC has issued comment letters to companies about their climate change and carbon emissions disclosures in the 10-K form. Of note is that the companies who received comment letters are in industries that are not particularly carbon intensive, indicating that all companies should carefully consider their disclosures on these topics.

SEC has issued comment letters to companies who included climate change disclosures in their most recent 10-k.

09/17/2021

What will happen to programs if they make the company look good but do not increase ?

More than half of 530 corporate executives have little or no confidence in the reliability and maturity of their environmental, social and corporate governance (ESG) programs, according to a global survey from corporate governance advocacy non-profit OCEG.

09/11/2021

The potential effect of central bank digital currencies on monetary policy and interest rates.



Quoting:
Investors have been ignoring progress toward government-issued electronic money, even as many countries are progressing rapidly toward their own online cash. They should ask two questions: Will the Federal Reserve issue a digital dollar? And will it eventually replace physical bank notes?

I think the answer to both questions is yes, and those who agree should be assessing the impact on future monetary policy already, because dramatic change is likely within the timespan of the 30-year Treasury.

The main monetary power of the digital dollar comes from the abolition of bank notes. If people can’t hoard physical money, it becomes much easier to cut interest rates far below zero; otherwise the zero rate on bank notes stuffed under the mattress looks attractive. And if interest rates can go far below zero, monetary policy is suddenly much more powerful and better suited to tackle deflation.

https://www.wsj.com/articles/digital-currencies-pave-way-for-deeply-negative-interest-rates-11631091581?st=wlbeaev4v6h55il&reflink=desktopwebshare_permalink&fbclid=IwAR3xE-2GH0Wre2hTHtTxKhxawQfLc53FFQQi5fHlWA2IBsMqCfeiibBf_Eo

If people can’t hoard physical money, it becomes much easier to cut interest rates far below zero.

08/26/2021

Asana and Twilio are the first two listings on the Long Term Stock Exchange. Looking forward to many more.

Today, Asana and Twilio launch their listings on The Long-Term Stock Exchange, becoming the first companies to choose a new exchange focused on elevating governance.

08/19/2021

When are DeFi projects subject to regulation by the SEC? Or other regulators?

Quoting:
A new breed of digital asset exchanges is potentially the holy grail for cryptocurrencies: online places for people to trade and lend that purportedly involve no middleman setting the rules or taking fees.

But these peer-to-peer networks, so far completely unregulated in the U.S., may not be immune from oversight, said Gary Gensler, chairman of the Securities and Exchange Commission. Some decentralized finance projects, known as DeFi, have features that make them look like the types of entities the SEC oversees..

Some peer-to-peer trading and lending projects have features that may trigger the need for regulation, said Gary Gensler, chairman of the Securities and Exchange Commission.