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Washington Brews With Looming Governance Reform

Melissa Klein Aguilar | May 5, 2009

Washington finally seems to be gearing up for its full-court press of corporate governance reforms.

Rumors flew around the Beltway last week that both the Securities and Exchange Commission and key Congressional lawmakers were poised to unveil their long-awaited reforms. No such pronouncements actually arrived, but few doubt they are coming soon and will transform the corporate governance and compliance environment companies had grown accustomed to since 2000.


Schapiro

Foremost, the SEC plans to revisit shareholder access to the proxy statement sometime this month and to act on a controversial New York Stock Exchange proposal that would end broker-voting in all director elections. SEC Chairman Mary Schapiro has also promised to raise “enhanced disclosure” of directors’ experience in June, and publicly backed away from efforts such as...

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