The current system of allowing fiduciaries such as Pension Funds, Mutual Funds or Private Banks discretion over proxy voting is broken. In an age of Internet and seamless information flows it should be easy to change the system. While most investors would be hopelessly challenged a system of delegated voting via proxy firms would be appropriate. They would declare their policies and investors could choose the proxy firm that most closely matches their preferences. Even a sort of 'mix and match' of policies on individual issues could be envisaged.
(20-Jan-2019)
How to fix the unhealthy concentration of corporate voting power
As Commissioner Crenshaw reminded us during yesterday’s Investor Advisory
Committee meeting, as we settle back into a work routine after the
holidays, she ...
14 hours ago
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