The Securities and Exchange Commission held an open meeting Nov. 5 to decide if revisions to proxy solicitation rules were needed to provide clarity to market participants, encourage shareholder engagement, and improve investor communication. Also on the table: a discussion on possible amendments to shareholder proposal rules to modernize submission and resubmission rules.
SEC Chairman Jay Clayton gave a brief history of what inspired the Commission to review such rules, noting that an SEC roundtable that took place last fall and brought together investors, issuers, and other market participants garnered about 300 comment letters and recommendations to improve the proxy voting system.
