A top official at the U.S. Securities and Exchange Commission on Thursday defend...
WASHINGTON - A top official at the U.S. Securities and Exchange Commission on Thursday defended an agency shareholder voting proposal amid “misconception” received from the SEC’s public consultation process over new limits to vote on thorny issues like climate change disclosure and executive pay.
“I have seen many generalities, recycled comment letters...suggesting dissatisfaction based entirely on misinformation,” Roisman, the Republican-appointed commissioner, told a law school audience in Washington. “No one commenter or group of market participants dictates the agency’s agenda or approach to an issue. We receive input from and listened to the concerns of all market participants and the public,” Roisman said.
The proposal, which was subject to a period of public consultation, also required proxy adviser firms to give companies two chances to review their recommendations before they are sent to shareholders.
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