Wall Street's top regulator on Tuesday proposed a pair of long-awaited rule...
WASHINGTON - Wall Street’s top regulator on Tuesday proposed a pair of long-awaited rules that would set new limits on shareholders’ ability to call for corporate changes on thorny issues like climate change disclosures and executive compensation.
Both shareholder proposals and proxy advisory firms are cornerstones of corporate governance and how investors hold management accountable.Democrats Rob Jackson and Allison Herren Lee voted against the rules, saying they tilted the playing field toward corporate management.The current thresholds for re-submissions of proposals date from 1954, SEC officials said.
Proxy advisory firms, including Institutional Shareholder Services Inc., recommend to investors how to vote and cast ballots on behalf of some asset managers. Industry groups, like the U.S. Chamber of Commerce and the National Association of Manufacturers, both of which lobbied aggressively for the proposals, praised the SEC’s moves.
New York City Comptroller, Scott Stringer, said that if implemented, the agency’s actions would be “a shameful gift to corporate executives at the expense of shareowners.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
“It Was a House of Cards”: After WeWork, Wall Street Loses Faith in UnicornsBig institutional players were left holding the bag on WeWork—hastening a bitter reckoning for the IPO market. But after years of irrational exuberance, it might be a necessary corrective—and, ultimately, a win for “last dumb money” investors who routinely get fleeced.
Read more »
Wall Street hits record high on energy, tech boostGains in technology and energy shares pushed Wall Street's three main index...
Read more »
Goldman Sachs Has Upped The Ante For Paid Parental Leave On Wall StreetThe decision by Goldman Sachs and other companies to offer longer paid parental leave for all parents is promising, especially if all employees feel empowered to take it.
Read more »
Mark Hamill Calls “Build The Wall” Display At White House Halloween Event “Frightening Beyond Words”During a Halloween party at the Eisenhower Executive Office Building, which is located across the street from the White House, children attending the party interacted with a display where they woul…
Read more »
Three decades on, Germans remember surprise fall of Berlin WallSascha Moellering witnessed the fall of the Berlin Wall at the Brandenburg Gate ...
Read more »
Wall St. extends recent gains on trade deal optimismU.S. stocks rose on Monday, hitting record highs again on hopes of a U.S.-China ...
Read more »