New SEC guidance on proxy voting increases issuer cost, demands, Commissioner Lee says
( August 21, 2019, 18:15 GMT | Official Statement) -- MLex Summay: US Democratic Commissioner Allison Herren Lee has concerns that new proxy voting guidance from the Securities and Exchange Commission would create significant risks to the free and full exercise of shareholder voting rights. The updated guidance would increase cost and require more issuer involvement in the process that could undermine the reliability and independence of voting recommendations, Lee said in a statement. "What exactly are we fixing by calling for increased issuer input and injecting costs into the process?" Lee asked.Statement follows below: ...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.