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SEC Backs Amazon Holders On Global Tax Transparency Vote
A Roman Catholic priest told Law360 on Wednesday that he won the U.S. Securities and Exchange Commission’s approval for a vote among fellow Amazon.com shareholders on his global tax transparency proposal, bypassing the company’s request to block his measure.
The Rev. Séamus Finn told Law360 that his proposal for a shareholder vote will be included in materials at the corporation’s annual meeting in May, when a landmark vote will take place on whether to force Amazon to publicly disclose tax payments in each country of operation. Finn works on policy and investments for the Missionary Oblates of Mary Immaculate — a 200-year-old congregation based in Aix-en-Provence, France — whose attorney Con Hitchcock said the SEC’s denial of Amazon’s no-action request is a watershed moment in tax transparency.
OMI JPIC Joins Investors Urging the SEC to Mandate Disclosures on COVID-19 Risks & Responses June 16th, 2020
Investors and the general public are struggling to understand how the COVID-19 pandemic is impacting the economy and the financial markets. At the same time, the federal government is distributing trillions of dollars in financial support to mitigate the economic impact of the pandemic.
OMI JPIC recently joined 98 investors, state treasurers, public interest groups, labor unions, asset managers & securities law experts to urge the U.S. Securities and Exchange Commission (SEC) to institute new disclosure requirements that would allow investors and the public to analyze how companies are acting to protect workers, prevent the spread of the virus, and responsibly use any federal aid they receive.
Oblate JPIC Applauds Court Decision to Uphold Congo Minerals Disclosure August 13th, 2013
On July 23, the DC District Court ruled in favor of the Securities and Exchange Commission’s (SEC) rules which upheld section 1502 of the Dodd–Frank Wall Street Reform and Consumer Protection Act against the National Association of Manufacturers, Chamber of Commerce and the Business Roundtable. Section 1502 requires companies registered with the SEC to carry out due diligence and to disclose whether or not their products contain conflict minerals from the Democratic Republic of the Congo (DRC) and adjacent countries. The Missionary Oblates JPIC office applauds this decision as a victory for the people of the Democratic Republic of Congo. For more information, read the investor’s letter (download PDF) or visit www.iccr.org.
Credit: Image from the Puget Sound Business Journal (http://www.bizjournals.com/seattle/news/2012/10/11/new-sec-rule-forces-manufacturers-to.html)
Intel Posts its White Paper on Conflict Minerals to the SEC website December 2nd, 2011
Socially responsible shareholders have applauded Intel Corporation for responding to their concerns and suggestions around conflict mineral policy and transparency. The Company agreed to post the company’s white paper “Intel’s Efforts to Achieve a ‘Conflict Free’ Supply Chain” to the SEC website last week.
Over the past several months, many shareholders affiliated with ICCR (including the Missionary Oblates) have pressed Intel to use its position as a sustainability leader to educate, and influence the marketplace on this issue. Being the first issuer to post a white paper on the SEC’s website is a significant step toward informing a broader audience of real progress being made by industry-wide and multi-stakeholder processes to bring an end to the bloodshed in the DRC minerals supply chain.
Conflict Minerals in Our Cell Phones, Laptops March 1st, 2011
According to a UN Panel of Experts and others the conflict in the Democratic Republic of Congo is being fueled by a multi-million dollar trade in minerals. The armed groups perpetuating this violence deal in five main minerals used in electronic products and found plentifully in eastern Congo – coltan, gold, tin, tungsten and tantalum.
To see where various electronics companies rank in using conflict-free minerals and to send them messages, go to Raise Hope for Congo (English only)