The SEC has given notice they will hold an Open Meeting on July 14, 2010 at 10:00 a.m. to consider issuing a Concept Release on proxy mechanics and soliciting public comment as to whether the Commission should consider revisions to its rules to promote greater efficiency and transparency in the U.S. proxy system and enhance the accuracy and integrity of the shareholder vote. The meeting will be broadcast over the Internet for anyone who cannot attend, via the SEC’s website at www.sec.gov.
One part of proxy mechanics is expected to be “Client Directed Voting.” I have prepared a post on that subject largely based on the work of Mark Latham. I anticipate it will go up at the HLS Forum CorpGov & FinReg within the next few days. In the meantime, see my recent post: Q&A on Client Directed Voting. For further background on broader issues, see my Comparison of “Proxy Plumbing” Recommendations, 11/8/09.