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
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.
April 10, 2019 | Main Street Coalition
New study proves that retail Investors support regulation of proxy advisory firms
A study recently published by Spectrem Group quantifies how retail investors feel about proxy advisory firms, revealing the wide disconnect between investors’ desires and proxy advisors’ practices. The survey concludes that “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.”
April 3, 2019 | Main Street Coalition
Senate hearing reiterates need for proxy reform to consider interests of retail investors
This week, the Senate Committee on Banking, Housing and Urban Affairs held a hearing on the “The Application of Environmental, Social, and Governance Principles in Investing and the Role of Asset Managers, Proxy Advisors, and Other Intermediaries.” The committee heard from three witnesses: The Honorable Phil Gramm, a former U.S. Senator; James R. Copeland, Senior ...