FirstRain announced two great pieces of momentum this morning: CalSTRS has become a client of FirstRain, and we’ve released new capability in our system to support pension governance.
I am proud to have CalSTRS as a client. Their reputation for rigor and integrity is unmatched – and deserved. They and the South Dakota Investment Council are our first two disclosable pension clients, and we’re seeing intense interest from pension funds globally as the pace of regulatory actions and change increases and shareholders sharpen their attention.
Pension governance is a specific set of requirements for pension funds. It involves automated monitoring and analysis of:
- Traditional corporate governance, which includes by-laws changes, anti-takeover provisions, executive compensation,, and board independence
- Rule-making processes at the government, financial exchange and global regulators
- Opinions, actions and statements of peer institutions, activist investors, and other global market participants
- Environmental & Social Responsibility trends, rules, and risk analysis
This is a timely introduction, as investment officers are under significant pressure to reduce governance risk in a systematic and repeatable way. The automated governance analysis process using FirstRain is a step in the right direction.