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 […]
Read MoreThe 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 […]
Read MoreThe US has taken another step forward to bring the US proxy process into line with the rest of the world. Late last week (20/02/2009) the Delaware State Bar Association received a number of proposed amendments from its Corporation Law Section Council members. There are three key proposals on the table: Section 112: Access to […]
Read MoreAs the Madoff and Sanford scandals have highlighted, co-operation between regulatory authorities is a crucial protection mechanism for shareholders. The news that the SEC is pulling away from its committment to work with the EU on audit inspection is therefore especially disappointing. Unlike Canada and Japan who are keen to move forward with mutual recognition […]
Read MoreA coalition of investors, US state officials and environmental groups have filed a petition with the US Securities and Exchange Commission (SEC) calling on the regulator to force companies to assess and disclose their financial risks from climate change. The petition cites scientific evidence and regulatory developments it claims prove that the risks and opportunities […]
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