The Securities and Exchange Commission has published a paper inviting comment on the US proxy system: see here (pdf). The paper raises three broad questions:- Should steps be taken to enhance the accuracy, transparency, and efficiency of the voting process?
- Should the SEC's rules be revised to improve shareholder communications and encourage greater shareholder participation?
- Is voting power aligned with economic interest and do the current disclosure requirements provide investors with sufficient information about this issue?
Further background information, including a short factsheet about the proxy system, is available here.
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