WASHINGTON (CN) - To increase shareholder participation in the governance of corporations, the Securities and Exchange Commission proposes to require companies to include in their proxy materials a shareholder's, or a group of shareholder's, nominees for director, and shareholder proposals that would amend a company's governing documents for nomination procedures or disclosures related to shareholder nominations.
The SEC states that it hopes to refine the proxy process so it replicates, as nearly as possible, the annual meeting, since the proxy process has become the primary way for shareholders to learn about matters they are to decide and to make their views known to company management.
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