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
July 3, 2019 | Main Street Coalition
ISS Attempts to Discount Concerns on Proxy Advisory Firms with New Myth v. Fact Sheet
Institutional Shareholder Services (ISS) recently released a myth vs. fact summary aimed at downplaying concerns over the lack of regulatory oversight on the industry, following the recent announcement that the Securities and Exchange Commission (SEC) intends to propose a rule regulating proxy advisors this year. Here we explore the “facts” presented by ISS, many of ...
June 21, 2019 | Main Street Coalition
New Paper from Milken Institute Details Inherent Problems in Proxy Advisory Firms
Last week, nonpartisan think tank Milken Institute published a paper exploring the rise, impact, and implications of proxy advisors and how reforms could help improve the system. Author Chester S. Spatt, a former chief economist of the Securities and Exchange Commission, writes that proxy advisory firms arose from a desire to address market failures in ...
June 20, 2019 | Main Street Coalition
ESG: The “Scarlet Letter” of Corporate America
This week, the American Enterprise Institute held a panel discussing environmental, social, and governance (ESG) investing as a means to drive social policy goals. Securities and Exchange Commissioner Hester Pierce gave the opening remarks, beginning with a metaphor to the famous story of “The Scarlet Letter.” “Here too, we see labeling based on incomplete information, ...