In Focus

CII Takes Stand Against Bill Repealing Crucial Dodd-Frank Provisions

CII sent a letter to the chair and ranking member of the House Financial Services Committee September 12 expressing serious concerns about the Financial CHOICE Act of 2016, a sweeping bill that would undo the Dodd-Frank Act and the reforms it ushered in the wake of the 2008 financial crisis. Specifically, the correspondence opposes provisions in the bill that would: 
  • reduce the frequency of say-on-pay votes
  • narrow the scope of the claw back requirement in the act
  • shrink disclosure about hedging transactions
  • repeal a section in the act supporting reasonable, appropriately structured executive pay-for-performance programs at financial institutions 
  • eliminate a provision in the act allowing for proxy access
  • rescind the SEC’s required disclosure rules on board leadership
  • restrict the ability of proxy advisory firms to provide voting information to institutional investors who voluntarily contract for such information
  • replace the SEC’s existing economic analysis with rulemaking

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CII Priorities

Universal Proxy In contests, investors should be free to vote for the nominees they prefer.

Executive Compensation CEO pay should be transparent and tied to long-term performance.

Dual-Class Stock Each share of a public company's common stock should have one vote.

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