A COMMONSENSE AGENDA
Demanding that fund managers focus on maximizing performance – not playing politics with other people’s money
Ensuring that retail investors who own passive funds through 401(k)s have a say in how their shares are voted
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
What’s the problem? Let’s “whiteboard” it out.
September 19, 2018 | Main Street Coalition
Fact Check: Commissioner Jackson Wrong on Proxy Advisory Firms
Last week, SEC Commissioner Robert J. Jackson, Jr. issued a statement on shareholder voting riddled with misleading arguments. In the statement, Commissioner Jackson suggested that regulating proxy advisors is not in the shareholders best interest and is, at best, a distraction. He read a similar text at an Investor Advisory Committee Meeting last week.
September 18, 2018 | Wall Street Journal
Cracking the Proxy Racket
The SEC last Thursday took the laudable, if overdue, step of withdrawing guidance from 2004 that enshrined proxy advisory firms as stewards of corporate governance. Rescinding the guidance, the SEC said, is intended “to facilitate the discussion” about “the proxy voting process, retail shareholder participation and the role of proxy advisory firms.”
September 17, 2018 | The Dallas Morning News
How progressive politics is creeping into the corporate boardroom
Such nuisance resolutions cost companies valuable time and money. But much worse than nuisance resolutions, the proxy advisers have adopted many left-leaning policy objectives, and they are using their inappropriate level of influence to "drive major policies at most publicly traded companies," according to Timothy Doyle of the American Council for Capital Formation.