State Treasurers Caution the SEC On Proxy Advice

Catering to the pleas of corporate interest groups, the SEC is moving quickly to impose new regulations on proxy advisor firms that will undermine a well-established, market-based system that has served investors, companies, and the U.S. equity market for decades. Proxy voting is a critical means fo...

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Bibliographic Details
Published in:Barron's 2020-03, Vol.100 (10), p.38-38
Main Authors: Frerichs, Michael, Magaziner, Seth, Torsella, Joe, Wooden, Shawn
Format: Article
Language:English
Subjects:
Accountability
Advisors
Beneficiaries
Boards of directors
Corporate governance
Executive compensation
Frerichs, Michael
Institutional investments
Litigation
Public companies
Shareholder voting
Stockholders
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Summary:Catering to the pleas of corporate interest groups, the SEC is moving quickly to impose new regulations on proxy advisor firms that will undermine a well-established, market-based system that has served investors, companies, and the U.S. equity market for decades. Proxy voting is a critical means for investors-the actual owners of these companies-to signal issues of concern, hold corporate leaders accountable, and protect their assets. Institutional investors rely on proxy advisors, like Institutional Shareholder Services and Glass Lewis, to provide timely, independent recommendations on proxy ballot items that require votes every year at tens of thousands of companies around the world.
ISSN:1077-8039