The Magazine of Corporate Responsibility

Tag Archive for ‘Proxy Access’

Securities and Exchange Commission Fact Sheet on U.S. Proxy System Inquiry

This is a complete text of the July 14, 2010 fact sheet issued by the U.S. Securities and Exchange Commission seeking comment on the U.S. proxy system.

SEC Explores Changes to U.S. Shareholder Proxy System

The commission outlined a concept release seeking public comment on proposals to “promote greater efficiency and transparency in the U.S. proxy system and enhance the accuracy and integrity of the shareholder vote.” And SEC Commissioners, with no debate, unanimously approved issuing the concept release for a 90-day public comment period.

Financial Reform Bill Leaves Proxy Access Rules with SEC

After days of intense political drama, House and Senate negotiators on the financial reform bill agreed to toss a key shareholder governance issue — proxy access — back to the Securities and Exchange Commission.

Senate Negotiators Move to Limit Proxy Access in Finance Bill

To the dismay of activist investor groups, Senate Banking Committee chairman Christopher Dodd proposed that investors seeking to nominate directors for shareholder votes be required to own at least a 5% interest in the company for two years. Few, if any, institutional investors would be able to meet such a requirement.

Politicizing the Board: Directors Face Powerful Pressures

Serving as a corporate board director will soon become more similar to serving as a county commissioner or city assemblyman than serving on a traditional for-profit corporate board, and as a result some directors may choose not to serve, according to a leading U.S. corporate governance expert.