SEC's Roisman Eyes More Changes To Proxy Voting Rules
By Tom Zanki (March 10, 2020, 6:59 PM EDT) -- U.S. Securities and Exchange Commissioner Elad Roisman said Tuesday that regulators are eyeing more proposals aimed at reshaping proxy rules, including a "universal proxy" that could make corporate ballots more consistent whether shareholders vote in person or not.
In 2016, the SEC proposed a so-called universal proxy rule that would have let all shareholders endorse any mix of candidates they wish for corporate board of directors' elections, whether they are backed by activists or corporate management. The proposal was never enacted.
Under current rules, only shareholders who attend meetings in person can mix and match their preferred slate of nominees. Those...
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