Just as the governance community is beginning to feel it might explode if another consultation comes its way, the battle for regulatory attention over the parlous state of the proxy system is hotting up in the US. Computershare, the global securities service provider has weighed in with the launch of a website to raise awareness about […]
Read MoreThe US Securities and Exchange Commission looks set to debate its “concept release” on the mechanics of the US proxy system next week. According to an SEC announcement, the commission is scheduled to meet on July 14 at 10am to vote on the “concept release” seeking public comment on how to enhance the “efficiency and integrity” […]
Read MoreMary Schapiro, chairman of the Securities and Exchange Commission is a step closer to straightening out America’s proxy plumbing. In a speech made at the Stanford University Law School Directors College on June 20th, Schapiro outlined the Commission’s current thinking. “the Commission will soon consider publishing a concept release soliciting detailed ideas about how to […]
Read MoreCalPERS and 20 other public pension plans have written to key US lawmakers urging them to keep corporate governance provisions in the final version of a proposed financial regulations reform bill. The US House of Representatives and Senate have each passed versions of reform legislation and now must now merge the two bills. Both measures include […]
Read MoreThe SEC has confirmed that it will be issuing a green paper on proxy reform later this year. Speaking at a Business Roundtable quarterly meeting last week, SEC Chairman, Mary Schapiro said: “the mechanics of the proxy process have not kept pace with current market conditions or trading practices. For this reason, the Commission will soon […]
Read MoreThe US is moving forward with a series of comprehensive financial reforms in a new bill, “The Wall Street Reform and Consumer Protection Act of 2009”. In 1,279 pages, the new bill pulls together a total of six reform proposals which had been introduced individually over the course of recent months. Subject to final amendments, the bill […]
Read MoreLeading US mutual fund manager Oppenheimer Funds has written to the SEC supporting improved disclosure of commercial relationships which might create a conflict of interest. In a Sept.24 letter to the Securities and Exchange Commission commenting on the SEC’s proposed new rules entitled “Proxy Disclosure and Solicitation Enhancements,” OppenheimerFunds said it supports the Commission’s efforts to […]
Read MoreAccording to the Chinese calendar, 2010 will be the Year of the Tiger. It will also be the “the year of regulation” for the financial world. Adding to the reading pile is US Senate Banking Committee Chairman Chris Dodd’s mammoth proposals to overhaul the US financial regulatory system. Spread over 1,100 pages, the proposals woiuld not only strip the […]
Read MoreThe SEC has reaffirmed its commitment to reform the US proxy voting system. In a speech to Chicago’s Northwestern University School of Law on October 2nd Commissioner Elisse B. Walter outlined the SEC’s position on the mechanics of shareholder voting: “To further our goal of improved corporate governance, our staff is also taking an in-depth look […]
Read MoreLeading US shareholder advocate Richard Ferlauto, has been appointed as deputy director of policy for the Securities & Exchange Commission’s Office of Investor Education and Advocacy (OIEA). Since 2002 Rich has been director of corporate governance and public pension programs at the American Federation of State County and Municipal Employees where he was instrumental in proposing […]
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