Corporate Governance Regulation - Proxy Access - Financial Services Roundtable - November 18, 2010
|Comment Deadline||Final Rule Issue||Effective Date|
|February 16, 2010||September 20, 2011||September 20, 2011 VACATED BY COURT ORDER|
Reporting of Proxy Votes on Executive Compensation
November 18, 2010
The Financial Services Roundtable states that the SEC should not use specific language for a proxy vote or use such a prescriptive approach in framing the shareholder vote on executive compensation. The letter explains that the Commission's rules surrounding which issuer shares that are entitled to a say-on-pay vote and the frequency of that vote have become to specific. Rather, state law should apply in the majority of these cases, and the Commission's rules should state this.