Some analysts call such efforts by activist investors, including some pension funds, a way to impose policies too unpopular
FARA covers broader activities meant to influence public opinion – academic research, grassroots engagement, and organizing protests. “If a foreign entity is trying to influence American policy, we ought to know about it,” Sen. Charles Grassley (R-Iowa) said in a statement to RealClearInvestigations that did not specifically address Hohn. Recent public letters from TCI pressured executives at top companies where it holds minority stakes to implement full “de-carbonisation of economies (net zero emissions) by 2050.” The recipients included Google’s parent company Alphabet, Anthem, Charter Communications, Microsoft, Union Pacific Railroad and Univar Solutions – among others. Some analysts call such efforts by activist investors, including some pension funds, a way to impose policies too unpopular to be passed through legislation and not in shareholders’ interest. “I’m very skeptical of the notion that [Hohn’s strategy] is shareholder value-driven,” said James R. Copland, director of legal policy at the libertarian Manhattan Institute, whose Proxy Monitor researches ESG shareholder proposals. “They’ll argue that there’s a long- term value, but if hedge funds think they have the right answer on this stuff, then raise a bunch of capital for it and place bets to say that the market is mis-valuing this.” © RealClearInvestigations. Illustration of Sir Christopher Hohn by Insider Monkey
to be passed through legislation and not in shareholders’ interest.
Agents Registration Act. Neither Hohn, his funds, nor the Center for Climate Integrity’s executive director, Richard Wiles, registered as a foreign agent under FARA. A law often honored in the breach but revived by Special Counsel Robert Mueller to secure convictions during his Russia investigation, FARA requires persons acting as agents of foreign principals in the United States to disclose their activities to influence public policy and politics. The obligation to register under FARA is triggered – whether or not a would-be agent is paid – when a person or entity acts as an “agent” of a foreign principal, including foreign governments, political parties, citizens of another country based outside the United States or any company incorporated under the laws of a foreign country. Regulated activities include direct lobbying and public relations efforts, but Jeff Patch is an Iowa-based economics writer focused on analyzing legal, regulatory, and legislative dynamics that impact markets, workers, and business. He also founded Iowa Intelligence, a research and communications firm, that helps clients tell their stories and impact issues.
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