Manifest has written to the SEC in support of rule changes designed to eliminate uninstructed broker votes being used at director elections. The New York Stock Exchange had recently filed a request with the SEC to change Rule 452 which allows brokers to use client votes if no instructions have been received. The proposal has […]

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The Millstein Center for Corporate Governance and Performance at the Yale School of Management has made a series of proposals to boost transparency among institutional investors and the proxy voting services that advise them. In addition to investor transparency about policy, engagement; voting resources and tactics, the Center is also proposing a code of professional […]

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The US Securities and Exchange Commission (SEC) has moved a step closer to approving the New York Stock Exchange’s Rule 452 proposal to eliminate broker discretionary voting in director elections.  This proposal was developed by the Exchange’s Proxy Working Group in 2006. The NYSE has recently re-filed its proposed amendment to Rule 452 and includes […]

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As Swiss pharma giant Novartis squared up to the first of the 2009 European season’s shareholder resolutions, it looks like voting irregularities downstream may be calling the results into question. Novartis are said to be ‘furious’ at the apparent foul ups caused by the overly complicated ‘chain of intermediaries’ which have left some shareholders with […]

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