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
Keith L. Johnson, Chair, Reinhart Institutional Investor Services
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