Buzzword: Proxy access
TEXT OF STORY
Ignored investors bring us this week’s Marketplace Money Buzzword: proxy access.
Proxy access is all about investors looking for respect. At shareholder meetings, they’re allowed to vote on board members and company proposals, but they can’t nominate members or make their own proposals.
Activists hope to change that and give some stockholders a chance to have more say. Well, this week the SEC thought about it … and decided to keep things as is.
So now the only tools investors have to get themselves heard are phone calls, e-mails and maybe a rock through the SEC’s window.
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