Companies, investors, and other players in corporate governance generally were unhappy with SEC efforts to referee disputes over which shareholder proposals face votes at annual meetings, a new survey shows.
The Securities and Exchange Commission earned a middling grade, or worse, from a majority of those with investor resolution experience, according to a University of Delaware study released Wednesday. Only 6% of the more than 150 investors, company representatives, and others who weighed in on the SEC’s shareholder proposal administration gave the agency a perfect five-star rating.
The SEC had long advised companies seeking direction on whether they could exclude ...