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October 19, 2018

Main Street Investors Will be Watching CII and ICGN Events in New York City Next Week

Next week in New York, the International Corporate Governance Network (ICGN) and the Council on Institutional Investors (CII) are holding conferences that will feature key players impacting issues of importance in corporate governance to Main Street investors. Unfortunately for Main Street investors, it appears they will have little to no representation at either of these ...

October 18, 2018

Proxy Advisor Recommendations Ignore the Views of Retail Investors

There are 100 million Main Street investors in the US, holding more than $16.9 trillion in stocks, making them potentially the most influential proxy voting bloc in the US. Despite this, a recent report from Broadridge and PwC provides the latest evidence that the current proxy process is stripping retail investors of their ability to ...

October 16, 2018

Retail Investors Front and Center for SEC Chairman Clayton

Last week, Securities and Exchange Commission (SEC) Chairman Jay Clayton sat down with John Harwood of CNBC at the Bipartisan Policy Center to discuss a panoply of issues facing the Commission. Chairman Clayton reiterated his desire to ensure that SEC actions benefit the interests of retail and Main Street investors’ ability to participate in America’s ...

October 12, 2018

Polls Show Voters Oppose H.R. 4015? Not Even Close.

Last week, ISS and the Council for Institutional Investors (CII) launched a new – and highly flawed – public relations campaign in an effort to defend against the growing concern over practices of the proxy advisory industry and its impact on everyday investors.  In addition to misstatements and factual inaccuracies – all debunked HERE — ...

October 10, 2018

Ahead of Roundtable, Chairman of MSIC’s Advisory Council Submits Comment to SEC

In anticipation of the upcoming SEC roundtable on the proxy process, Bernard Sharfman, Chairman of the Main Street Investors' Coalition Advisory Council, submitted a comment letter to the Commission. Mr. Sharfman highlighted multiple issues that MSIC has focused on since its launch.

October 9, 2018

U.S. Chamber: Proxy Advisory Firms Keep Zombie Proposals Alive and Well

A new report from the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness entitled, “Zombie Proposals and the Need to Modernize an Outdated System” explains how proxy advisory firms help keep repeatedly rejected shareholder proposals from dying – costing public companies significant time and money. The report aims to inform the Securities and Exchange Commission ...

October 8, 2018

CalPERS President Rejected by Public Employees for Playing Politics with Savings

In a stunning rebuke of the status quo, Priya Mathur lost her bid for reelection as the president of the board of administration of CalPERS to a police officer who ran on a platform rejecting the pension’s focus on political issues. Mathur will soon be replaced by Jason Perez, who emphasized the need for the ...

October 5, 2018

Proxy Advisory Firms are No Fair Referees

While the proxy advisory firms would have you think they are neutral referees in the proxy advisory game, a new report seeks to differ. This new report from Capital Policy Analytics adds to the voices questioning the current proxy advisory system, particularly its current structure and lack of proper oversight mechanisms. The paper looks at ...

October 4, 2018

New CPA Report Examines the Power of Proxy Advisory Firms

Press Release from Capitol Policy Analytics:  Research adds to pressure on Proxy Advisors following the recent withdrawal of ‘No-Action’ letters SEC to explore the issue in greater detail in November roundtable Financial return is the number one priority for retail investors saving for retirement or a home, but their priorities are less important to some ...