We Strongly Oppose the Oxymoronic “CHOICE” Act

We join with the Council of Institutional Investors in strongly opposing the falsely named “CHOICE” Act, which would eliminate critical shareholder rights and market responses that ensure the integrity of our financial markets. The proposal would sharply reduce the number of shareholder proposals and shareholder oversight on ceo pay, restrict the ability of independent proxy…

Proxy Access Update: Sidley Austin

From Holly Gregory’s Sidley Corporate Governance Report: Through the collective efforts of large institutional investors, including public and private pension funds, and other shareholder proponents, shareholders are increasingly gaining the power to nominate a portion of the board without undertaking the expense of a proxy solicitation. By obtaining proxy access (the ability to include shareholder…

Senate Bill Would Limit Shareholder Rights – The New York Times

Jason N. Ader and Eric Jackson write about proposed legislation that would significantly impair the rights of shareholders. [T]wo Senate Democrats – Tammy Baldwin of Wisconsin and Jeff Merkley of Oregon – have introduced a bill that would restrict shareholder rights. The bill was co-sponsored by Senators Elizabeth Warren and Bernie Sanders. Would these same…