Open letter: as SEC curtails shareholder activism, big institutional investors must act

Forceful stewardship

The SEC is proposing to change rules that govern shareholder proposals. This would seriously undermine corporate accountability.

Silence from U.S. institutional investors on this issue will hurt them and, more importantly, their clients in the long run. They must speak up now before their fiduciary duty is further degraded.

We partnered with thought leaders to share this open letter, kindly published by Corporate Knights.

The current list of signatories is below and we will add new ones as they come in.

The deadline for comments to the SEC is February 3rd, 2020. It is short notice, but you may still make your voice heard here.

Open letter signatories:

Keith P. Ambachtsheer, Director Emeritus, International Centre for Pension Management, Rotman School of Management, University of Toronto

Bill Baue, Senior Director, r3.0 (Redesign for Resilience & Regeneration)

Lauren Compere, Managing Director, Boston Common Asset Management

Toby Heaps, CEO, Corporate Knights

Margaret Heffernan

Keith L. Johnson, Chair, Reinhart Institutional Investor Services

Jon Lukomnik

Nell Minow, Vice Chair, ValueEdge Advisors

Tom O. Murtha, Lecturer, Columbia University

Mike Musuraca, Chair, Preventable Surprises

Brynn O’Brien, Executive Director, Australasian Centre for Corporate Responsibility

Jérôme Tagger, CEO, Preventable Surprises

Raj Thamotheram, Founder and Senior Advisor, Preventable Surprises

Gabriel Thoumi, CFA, FRM

Michele Wucker, CEO, Gray Rhino & Company




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