ACC’s Corporate and Securities Committee (CSL), in a letter filed September 15th, registered concerns over several aspects of the Securities and Exchange Commission’s proposed Proxy Disclosure and Solicitation Enhancements.
SEC proposals include enhanced compensation disclosures, director and nominees disclosures, disclosures on leadership structure, reporting of shareholder voting results and fees paid to compensation consultants, and changes to the proxy solicitation process.
CSL argues that the rules as proposed “will add pages to the proxy statements without adding ant real value to shareholders”.
For details see the comments:
ACC Corporate and Securities Committee comments to SEC, 9/15/09