Week InAdvance: April 6, 2015
Rules governing investor voting in corporate elections are a central topic at the SEC's Investor Advisory Committee on Thursday. The panel, created under the Dodd-Frank Act, may issue recommendations for new rules at its quarterly meeting when members get an update on the agency's Feb. 19 proxy voting roundtable. At that time, panelists clashed over whether the SEC should require universal ballots, with a corporate representative and attorneys arguing that they would be costly and lead to more proxy fights. Investor representatives said such ballots would level the playing field for those who can't attend shareholder meetings and who have to vote by proxy. Commissioners are split on the issue down party lines.
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