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Article: The Council of Institutional Investors Applauds the SEC for Proposing An Access Reform But Expresses Concern With the Triggers.
- Article from:
- PR Newswire
- Article date:
- October 8, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, Oct. 8 /PRNewswire/ -- The Council of Institutional Investors, an association of more than 130 public, corporate and union pension funds with over $3 trillion in investments, commends the Securities and Exchange Commission for releasing the proposal giving shareholders some access to management's proxy card to nominate potential directors.
The proposed rule is an important step toward reforming the fundamental weakness in the current U.S. corporate governance model -- the fact that investors have few, if any, meaningful and cost-effective ways to influence who actually sits on corporate boards and represents shareholders. Shareholders can now only ...