The SEC has three key governance reforms on the agenda for its July 1 “Sunshine Act Meeting” : Item 1: The Commission will consider whether to propose amendments to the proxy rules under the Securities Exchange Act of 1934 to set forth requirements for U.S. registrants that have received financial assistance under the Troubled Asset Relief Program […]
Read MoreSEC Chairman Mary Schapiro has announced the creation of new advisory committee which is intended to give investors a greater opportunity for input on the Commission’s reform program. SEC Commissioner Luis Aguilar is the primary sponsor of the 18-person committee which will cover a broad work plan, including: Advising the Commission on matters of concern […]
Read MoreManifest’s campaign to ensure shareholders at Irish companies have the opportunity to cast an advisory vote on the remuneration report gathered momentum over the weekend, with a full page article in the Irish edition of The Sunday Times. Last month Manifest filed shareholder resolutions at five Irish companies seeking an advisory say-on-pay vote. The Sunday […]
Read MoreA new study prepared by Manifest’s US partner, PROXY Governance with sponsorship by the IRRC Institute, “Effectiveness of Hybrid Boards,” analyzes 120 “hybrid boards” formed from 2005 through 2008 to evaluate their effectiveness in two areas: changes in business strategy and corporate governance structures; and changes in shareholder value measured both absolutely and relative to […]
Read MoreThe Institutional Investors Group on Climate Change has called for urgent action to boost the effectiveness of carbon markets and the mitigation of climate change risk in developing countries in their recent report ‘Toward an Effective Global Carbon Market’. The European group, representing over €4tr, identifies the need for strong pricing signals to further encourage […]
Read MoreOwners of USA Inc today (May 20) got the news they’ve been waiting for – the SEC has voted to propose new rules which will enable them to nominate their own board candidates. The proposal was passed in a narrow 3-2 vote reflecting party alliegances; both the Republican commissioners voted against the proposal on the basis […]
Read MoreThe Securities and Exchange Commission has charged INTECH Investment Management LLC, a Florida based investment advisor with violating its proxy rules after it was found that it failed to describe its voting policies and procedures as well as failing to manage and disclose a major conflict of interest. After receiving complaints from some of the manager’s union-affiliated clients about its pro-management proxy […]
Read MoreThe 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 York Stock Exchange Rule 452 at staff level, instead of having the amendment considered by the full […]
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