Jim McRitchie’s Draft Petition to the SEC on Disclosure of Proxy Votes

Jim McRitchie (jm@corpgov.net) is seeing comments on his draft rulemaking petition for real-time disclosure of proxy votes. Corporations have facilitated the most dynamic economic growth in history. Addressing adverse externalities, like dark money and climate change, has been hampered by dispersed ownership. Mechanisms are needed to define common values and increase individual empowerment within corporate dominated…

SEC Chairman Clayton: Statement on Shareholder Proposals Seeking to Require Mandatory Arbitration Bylaw Provisions

SEC Chairman Jay Clayton on a shareholder proposal to require mandatory arbitration of shareholder claims: A domestic, publicly-listed company has received a shareholder proposal that would require the company to take steps to adopt mandatory arbitration provisions. The company has asked the staff of the Division of Corporation Finance for informal guidance on whether the…

John Wilcox: Proxy Plumbing Comment

Longtime proxy solicitor John Wilcox has submitted one of the most thoughtful comment on the SEC’s proxy roundtable issues. No one is more familiar with the issues raised by the current complexity of the system that provides information and voting mechanics. An excerpt: The failures of the proxy system have traditionally been blamed on back-office…

On Governance: What Does the Near Future Hold for Proxy Advisors?

The Conference Board’s list of predictions about the outcome of the SEC’s proxy roundtable hearing looks more like a wish list than anything grounded in probability, with the exception of the comments by the Conference Board’s own Doug Chia: Governance Center Executive Director, Doug Chia observed coming out of the SEC roundtable, “What seemed to…

James McRitchie: Proxy Roundtable Comment Letter

Corpgov.net‘s James McRitchie, one of the most knowledgeable and effective individual investors, has submitted an exceptionally thoughtful and well-informed comment to the SEC. Many thanks for his gracious permission to publish it in full. Final comment letter to the SEC on Shareholder Proposals, re File Number 4-725, including 11 recommendations highlighted on bold. Mr. Brent…

Protecting the Shareholder Proposal Process — As You Sow

Rosanna Weaver at As You Sow writes about the shareholder proposal section of last week’s SEC Proxy Roundtable. An excerpt: Looking back over time, the shareholder resolution system works. So why these discussions again? In great part, it is because the system has been effective in raising social and environmental issues to the fore and…