A COMMONSENSE AGENDA
Demanding that fund managers focus on maximizing performance – not playing politics with other people’s money
Providing retail investors with more visibility into how the funds they own vote on their behalf
Forcing third-party, “black-box” proxy-advisory firms to be more transparent about potential conflicts of interest
Insisting that public pension funds meet the same basic regulatory and reporting standards as private pension funds
Main Street Investors’ Manifesto
May 10, 2019 | Main Street Coalition
Institute for Pension Fund Integrity Event Underscores Importance of SEC Action on Proxy Advisors
Yesterday, the Institute for Pension Fund Integrity held a panel on proxy advisory firms, ESG investing and public pensions. Opening the discussion was Representative Sean Duffy (R-WI) articulating his position on proxy advisory firms and the “racket” they bring to the process for every-day retail investors.
May 1, 2019 | Main Street Coalition
CalPERS Continues to Ignore its Fiduciary Duty to Pensioners
The California Public Employees’ Retirement System (CalPERS) is set to put a “laser-like focus” this proxy season on social issues like board diversity and executive pay. This is despite increasing concerns about CalPERS’ poor financial performance and pressure from the federal government to make sure public pension funds are making investments to increase returns. According ...
April 19, 2019 | Main Street Coalition
SEC Investor Advocate Ignores Key Criticisms of Proxy Advisors, Concerns of Retail Investors
Fleming delivered his remarks just a few days before a new study was published by the Spectrum Group which concluded, “retail shareholders are too often being used as a poster child by institutional intermediaries to support practices in shareholder voting that retail investors do not support.” The survey also found that 85 percent of investors support increased SEC oversight after being made aware of issues with proxy advisors.