proxy voting Archives

SEC approves broker voting reforms, promises to look at the plumbing

In a widely anticipated move, the US Securities and Exchange Commission has moved forward with an aggressive reform program to update the US proxy system. The SEC met today (01/07/09) to approve the New York Stock Exchange’s proposal regarding broker …

SEC ponders proxy reform, SCC responds

The Shareholder Communications Coalition sent a letter to the Securities and Exchange Commission on Friday, April 24, 2009 in response to a recent article in the Wall Street Journal which suggested that the Commission may approve an amendment to New …

PCCW proxy ballot irregularities kill buyout

Hong Kong is not generally noted for its progressive corporate governance regime. Critics have argued that its weak regulatory system has long favoured powerful tycoons. However, in a rare and dramatic turn of events, Hong Kong’s Securities and Futures Commission …

Pershing Square throws wrinkle into Target proxy fight

As if proxy fights don’t have enough drama, the New York Times’ DealBook reports that a new fight is brewing between a Pershing Square dissident nominee for a seat on the board at Target Corp. and the company. The nominee, …

Agius against vote highest for FTSE 100 Chairman in over five years

The Times sources Manifest data today in it’s report on the Barclays AGM. The vote against the Chairman was the largest against vote recorded on the election of a FTSE 100 Chairman during the last five years. Some 16.14% …

Finland proposes Shareholder Rights Directive changes

Voting at Finnish companies is set to get a whole lot easier following an announcement from the Finnish government which will see Finnish company law brought into line with the EU Shareholder Rights Directive. Now that the contents of the …

Manifest urges SEC to overhaul the US proxy system

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 …

Code of Conduct for Proxy Advisors

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

SEC moves to block broker votes

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 …