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U.S. regulator shelves reform on voting in board fights-sources

Reuters  |  NEW YORK/WASHINGTON 

By Liana B. Baker and Michelle PriceNEW YORK/WASHINGTON (Reuters) - The U.S. securities regulator has shelved a proposed Obama-era reform that would have given shareholders in companies more freedom to vote for their preferred candidates during contested board elections, people with direct knowledge of the matter told Reuters.The proposal made by the Securities and Exchange Commission (SEC) two weeks before President Donald Trump's election victory would have changed how shareholders vote during activist investor-led fights for board seats, an issue that has divided companies and investors ...

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First Published: Wed, July 11 2018. 16:21 IST
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