The SEC’s solicitation of comments on the proxy process has led to more than 150 public letters. While almost no companies sent in letters under their own names, investors have submitted the bulk of the commentary, including nearly all of the familiar groups of shareholder proponents. Insight from a few major institutional investors follows, with diverging views about shareholder proposals and oversight of proxy advisory firms.
Don’t change, or do change, ownership or resubmission thresholds for shareholder proposals, and related rules.
“As such, we would view any action to limit some shareholders’ rights to file proposals as an action to limit all shareholders’ ability to fully consider all risks and opportunities of their investment.