Shareholders Archive

The SEC could be open to imposing a review period for issuers to assess the accuracy of proxy advisory firms’ reports prior to publication, SEC commissioner Elad Roisman said during an event hosted by the regulator last week. The SEC hosted a full-day event to review and assess the proxy process, looking at the way votes are administered and cast, digging into how shareholder proposals are put...

– The Wall Street Journal reported that Citigroup plans to keep its CEO and chair roles separate. The bank’s board said it had selected director John Dugan, a former top banking regulator, as its next chair. Dugan will move into the role in January, following Michael O’Neill’s retirement, setting him up to preside over the bank’s annual m...

Companies that choose to insert financial figures into the headline of their earnings releases experience a three-day share price bump and then a sharper drop-off, according to recent academic research. The research authors – Xuan Huang, associate professor in the department of finance at California State University Long Beach, Alex Nekrasov, assistant professor of accounting at the University of Illinois at Chicago, and Siew Hong Teoh, dean’s professor at the U...

The Council of Institutional Investors (CII) and ISS have stepped up their lobbying efforts against proxy adviser reforms with the US mid-term elections looming next month. The groups have launched a website that opposes federal legislation HR 4015 and encourages voters to urge their senators not to vote for the measure, which has already passed the House of Representatives. The bill would require proxy advisory firms to register with the SEC. Registered firm...