By Ross Kerber
Aug 14 (Reuters) - The top U.S. financial regulator on Friday made permanent its decision to cease judging whether companies may exclude shareholder resolutions from votes at annual meetings, leaving investor activists concerned about diminishing influence.
In practice, the change announced by the U.S. Securities and Exchange Commission extends a freeze put in place last November on deciding whether to approve corporate requests to skip votes on shareholder proposals.
The responses were known as "no-action" letters because they answered corporate requests for **** urance the agency would take no action if executives skipped votes on proposals that often deal with hot-button issues like carbon emissions or workforce diversity.
Executives claimed such measures may micromanage operations or deal with ordinary business undeserving of investors' attention.
#executives #proposals #ross
Aug 14 (Reuters) - The top U.S. financial regulator on Friday made permanent its decision to cease judging whether companies may exclude shareholder resolutions from votes at annual meetings, leaving investor activists concerned about diminishing influence.
In practice, the change announced by the U.S. Securities and Exchange Commission extends a freeze put in place last November on deciding whether to approve corporate requests to skip votes on shareholder proposals.
The responses were known as "no-action" letters because they answered corporate requests for **** urance the agency would take no action if executives skipped votes on proposals that often deal with hot-button issues like carbon emissions or workforce diversity.
Executives claimed such measures may micromanage operations or deal with ordinary business undeserving of investors' attention.
#executives #proposals #ross
3 months ago
