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Manifest

Proxy Advisor Role Clarified by SEC

The SEC this week weighed into the proxy advisor debate with Staff Legal Bulletin 20, which provides information on  the proxy voting responsibilities of investment advisers (i.e. professional investors) as well as clarification on the exemptions from federal regulation which apply to proxy advisory firms. (more…)

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Myshares App Aimed at Retail Shareholders

Guest Post: Miguel Carrasco – Managing Director and proxy solicitation consultant at Proxycensus Ltd specializing in issues relating to information transmittal, social media technology in IR and the technicalities of the cross border voting process. He is also a member of the ICGN, ECGI, CoF and the Investor Relations Society. (more…)

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Proxy Advisors Often Ignored: Yet, Concerns Continue

FT.com reported, contrary to many perceptions, that investors in the UK’s largest companies often ignored the guidance of proxy advisers when voting on pay issues. After votes at WPP, Xstrata and Prudential, some company executives complained that advisers carried too much influence. (Investors not tied to proxy advisers, 8/26/2012) (more…)

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CalPERS May Boycott Dual-Class IPOs

CalPERS is considering a policy of not investing in the initial public offerings (IPOs) of dual-class companies where shareowning is structured so that a minority will control the majority of the votes. From what I have seen, CalPERS has already opposed those that exist but this step would allow the retirement system to avoid purchasing shares […]

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Costco: Proxy Advisor Contest Proposed

My wife, Myra Young, submitted a proxy proposal to Costco aimed at establishing a new and innovative way for shareowners to obtain proxy voting advice. The proposal would set up a contest, pay for proxy advice out of entry fees and corporate funds, and would then share the advice of four winners with all Costco shareowners. […]

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Responsible Investor: Manifest to Enter US Market; UN Global Compact Gets Tough

UK-based proxy voting and research firm Manifest Information Services, which numbers the Swedish AP buffer funds among its clients, is planning to enter US market. Manifest, whose US partner Proxy Governance International (PGI) withdrew from the market late last year, will begin marketing in the US shortly, said Chief Executive Sarah Wilson. Manifest’s move comes […]

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CorpGov News Bites

Goldman Sachs Group Inc., trying to show it is responsive to public pressure over its pay, said Chairman and Chief Executive Lloyd Blankfein would get a $9 million bonus for 2009, a fraction of the $68.5 million payout he got in 2007. (Goldman Bows on CEO Pay, WSJ, 2/6/10) My heart bleeds for him but […]

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