Federal Reserve Board proposes enhanced supervisory expectations for boards; Search for new PCAOB chair and board members commences; Survey reveals trends in corporate director pay; 2017 proxy access proposals focused on bylaws amendments; Boards refine peer group selection and Business Roundtable requests pay ratio exclusions.
Street votes against directors at 400 companies for lack of diversity progress; S&P 500 index bars companies with multi-class shares; ISS launches its 2018 Annual Policy Survey; SEC updates rulemaking agenda; and CEO/Chairman separation doesn’t lead to better company performance.
The SEC Chair outlines his guiding principles; Hester Peirce renominated for SEC commissioner; 2016 director class attribute study shows mixed results for diversity progress on boards; shareholder proposals submitted in 2017 decreased by nearly 10%; and a survey shows how prepared companies are for the pay ratio disclosure.
Highlights include the SEC extends IPO confidentiality privilege to all companies; proxy season results show “fix-it” proposals aren’t gaining support; director pay is on the rise; and Broadridge reports on 2016 virtual annual shareholder meetings.
Highlights include CII outlines virtual annual shareholder meeting ‘wish list’; MSCI to gradually add Chinese shares to its emerging markets index; BlackRock’s vote bulletin on a recent climate change vote; and PwC US’s decision to add external directors to its board.