In Focus

CII Executive Director Outlines Priorities for SEC Advisory Council

Speaking before the SEC’s Investor Advisory Council December 8, CII Director Ken Bertsch outlined both the Council’s priorities and concerns and acknowledged the commission’s recent accomplishments in several areas.

He urged the SEC to follow through on its universal proxy proposal and ensure corporate compliance with restrictions on use of non-GAAP metrics.  Bertsch also expressed serious concerns about weak corporate majority vote policies, new IPOs with dual-class stock, regulatory schemes for proxy advisory firms and legislative proposals that could cripple the SEC.  He took the opportunity to thank the SEC for approving IEX’s launch of a national exchange, the proposal on universal proxies and “the thoughtful and difficult work” on its disclosure effectiveness project.

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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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