A plan from the Securities and Exchange Commission to revise its so-called “e-proxy rules” is a welcomed effort to reverse a troubling drop in voting by retail shareholders, but won’t be enough to address voter apathy and the larger problems associated with the proxy process.
That has been the general reaction to the SEC’s proposal, which was out for public comment through Nov. 20. The Commission wants to halt the decline in retail voting with amendments to its notice-and-access rule, which requires companies to post their proxy materials on the Web and then mail a notice to shareholders telling them where ...