Congress soon voting on reducing shareholder democ
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Posted On: 04/26/2017 8:45:52 AM
Congress soon voting on reducing shareholder democracy.
Behind our backs, SEC. 844 of the Financial Choice Act is being reviewed...that would drastically alter the shareholder proposal rules.
The Act would require shareholder proponents to
- hold one percent of the issuer’s voting securities, instead of the current threshold of $2,000.
- The holding period [to be able to vote] would be increased from one year to three years.
- Additionally, the thresholds for resubmitting proposals would be raised and the common practice of having an agent submit proposals on behalf of a shareholder would be prohibited.
Behind our backs, SEC. 844 of the Financial Choice Act is being reviewed...that would drastically alter the shareholder proposal rules.
The Act would require shareholder proponents to
- hold one percent of the issuer’s voting securities, instead of the current threshold of $2,000.
- The holding period [to be able to vote] would be increased from one year to three years.
- Additionally, the thresholds for resubmitting proposals would be raised and the common practice of having an agent submit proposals on behalf of a shareholder would be prohibited.
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