CII Urges SEC to Approve PCAOB Rule on Expanded Auditor ReportsCII has urged the SEC to promptly approve the Public Company Accounting Oversight Board’s (PCAOB) proposed rules to expand external auditor’s reports on corporate financial statements. For a description of the issues, see this lively New York State Society of CPAs (NYSSCPA) video.
Proxy access was just beginning to take off in 2015 when CII published “Proxy Access: Best Practices,” an overview of the Council’s position on common access bylaw provisions. Today, more than 400 companies have adopted proxy access bylaws, which enable shareholders to place their director nominees on a company’s proxy card. However, while proxy access has gained broad acceptance, some companies have included—or are considering including—provisions that could significantly impair shareholders’ ability to use it. In response, CII has updated its 2015 report with this publication, “Proxy Access: Best Practices 2017”, which includes CII’s position on newly identified provisions.
New CII Publication: Proxy Access Best Practices 2017
Fair Financial RulesSensible, effective rules safeguard investors and strengthen markets.
Dual-Class StockEach share of a public company's common stock should have one vote.
Majority Voting for DirectorsIn uncontested elections, directors should be elected by majority vote.
Universal ProxyIn contests, investors should be free to vote for the nominees they prefer.
News & Highlights
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- Sept. 21, 2017 - What Passive Buying and Selling Means for Individual Stocks
- Sept. 20, 2017 - A Start-Up Slump Is a Drag on the Economy. Big Business May Be to Blame
- Sept. 20, 2017 - SEC Discloses Edgar Corporate Filing System Was Hacked in 2016
- Sept. 19, 2017 - Sina Investor Seeks Changes in Rare Activism at a Chinese Firm
- Sept. 19, 2017 - Harvard Returns 8.1 Percent in ‘Disappointing’ Fiscal Year 2017
- Sept. 18, 2017 - Boards Try Buddy System to Get Newcomers Up to Speed
- Sept. 18, 2017 - Fixing the ‘Brain Damage’ Caused by the I.P.O. Process
- Sept. 13, 2017 - Consumers, but Not Executives, May Pay for Equifax Failings
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