The Securities & Exchange Commission voted 5-0 to issue a “concept release” seeking public comment on the corporate proxy system. At issue is whether rules overseeing the way investors vote their shares should be revised to promote greater efficiency and transparency, regardless of whether they actually attend shareholder meetings.
“The proxy is often the principal means for shareholders and public companies to communicate with one another, and for shareholders to weigh in on issues of importance to the corporation,” SEC Chairman Mary Schapiro said in a public statement.
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