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15 Jul 2009, 6:51 am
During a House of Representatives hearing on Tuesday, SEC chair Mary Schapiro said she would support legislation that would confirm the authority of the commission to issue a proxy access rule. [read post]
21 Sep 2009, 10:50 am by RiskMetrics Group Blog Team
Microsoft has become the first U.S. company to agree to hold a triennial advisory vote on executive compensation. [read post]
15 Jun 2010, 10:14 am by Ted Allen
After complaints from investors, Devon Energy has dropped its procedural objections to a shareholder proposal that seeks to repeal the company’s supermajority rules in favor a simple majority standard. [read post]
3 Oct 2011, 9:04 am by Ted Allen
In another strong showing, a board declassification proposal won 78.4 percent support (based on “for” and “against” votes) at Smithfield Foods’ Sept. 21 annual meeting. [read post]
27 Feb 2012, 7:17 am by Ted Allen
On Friday, SEC officials said they expect to rule on the 11 no-action requests by companies to omit shareholder proxy access proposals "in the near future,” likely within the next two weeks. [read post]
24 Jun 2010, 9:03 pm by Ted Allen
After back-and-forth negotiations and new offers from both sides, House and Senate negotiators finally reached a compromise Thursday night on the contentious proxy access language in the financial reform bill, according to news reports. [read post]
22 Jul 2011, 10:08 am by Ted Allen
In a setback for activist investors, a federal appeals court has struck down the Securities and Exchange Commission's controversial proxy access rule. [read post]
9 Sep 2011, 1:37 pm by Ted Allen
Investors have recently learned that another state, Iowa, has adopted a law that mandates classified boards.Earlier this year, state lawmakers approved an amendment to the Iowa Business Corporations Act (IBCA) that requires public companies with more than 2,000 shareholders to maintain staggered board terms until Dec. 31, 2014. [read post]
5 Dec 2011, 7:48 am by Ted Allen
As you prepare for the 2012 proxy season, please join ISS for two informative webinars on Tuesday and Wednesday on the updates to ISS' benchmark proxy voting policies for Europe and the United States. [read post]
1 Nov 2011, 2:11 pm by Ted Allen
More than half of the largest 100 U.S. public companies now disclose their direct political spending and have adopted board oversight mechanisms, according to a new report from the Center for Public Accountability (CPA), a Washington-based group that coordinates shareholder proposals that seek more disclosure.On Friday, CPA released its report and a new index that ranks companies based on their political spending disclosure on their public Web sites. [read post]
18 Nov 2011, 1:32 pm by Ted Allen
Submitted by Daniel Smith, Australian ResearchTwelve Australian ASX 300 companies have received a first "strike" under the new "two strikes" law in Australia that allows shareholders to oust directors if a company's remuneration report receives 25 percent or more "against" votes for two consecutive years.The controversial rule, which is part of an amendment to the Australian Corporation Act that went into effect July 1, requires companies to put a "spill"… [read post]
5 Apr 2012, 4:58 pm by Ted Allen
Earlier today, President Obama signed into law the "Jump-start Our Business Startups (JOBS) Act," which will exempt newly public companies from say-on-pay votes and other governance and accounting rules.The JOBS Act, which passed with bipartisan support in both chambers of Congress, creates a new category of "emerging growth companies," which will be exempt from votes on executive compensation; golden parachute votes; and various audit, disclosure, and initial offering… [read post]
3 Aug 2010, 10:18 am by Ted Allen
The California State Teachers’ Retirement System (CalSTRS) and Relational Investors are threatening to wage a proxy fight at Occidental Petroleum over the oil company’s compensation practices and the board’s failure to abide by its retirement policy or announce a succession plan for its long-serving chief executive and chairman. [read post]
28 Oct 2010, 1:12 pm by Ted Allen
The SEC and its efforts to implement the Dodd-Frank Act will face more scrutiny if Republicans take control of the U.S. [read post]
8 Mar 2011, 9:36 am by Ted Allen
In a significant no-action ruling, the Securities and Exchange Commission has turned down Citigroup’s request to omit a new proposal from New York City’s pension funds that seeks a report on the bank’s mortgage lending practices.The first-year proposal calls for an independent review by Citigroup’s audit committee of the bank’s internal controls related to loan modifications, foreclosures, and securitizations. [read post]
11 Apr 2012, 4:15 pm by Ted Allen
On Wednesday, the SEC staff released a study that examines whether investors should be able to bring lawsuits over transnational securities fraud.Under Section 929Y of the Dodd-Frank Act, Congress directed the SEC to study this issue following the U.S. [read post]
23 Feb 2010, 6:49 am by Ted Allen
On Monday, the Securities and Exchange Commission announced several measures that seek to improve the rate of proxy voting by individual investors.The SEC finalized amendments to its so-called “e-proxy rules,” under which companies may send a notice about the online availability of proxy materials, instead of bearing the expense of mailing a full set of proxy materials to every investor. [read post]