The SEC is expected to reveal new proposed proxy rules next Tuesday, but ISS did not wait for their formal announcement. They have filed a lawsuit against the SEC. ISS claims that the upcoming rulemaking is invalid. An excerpt from the complaint: First, the Release exceeds the SEC’s statutory authority under Section 14(a) of the…
Tag: proxy plumbing
SEC Investor Advisory Committee Recommendations on Proxy Plumbing
The SEC’s Investor Advisory Committee, established under Section 911 of Dodd-Frank (membership listed below), has submitted recommendations on improving the byzantine and jury-rigged proxy plumbing system. Their summary: The SEC should require end-to-end vote confirmations to end-users of the proxy system, potentially commencing with a pilot involving the largest companies; The SEC should…
ValueEdge Advisors 