The Senate bill would give the Securities and Exchange Commission<\/strong> explicit authority to write rules that give shareholders a way to directly nominate board members on the corporate ballot. Shareholder groups have lobbied the SEC on this issue for years and business groups have strongly opposed it, saying it could allow special interests to hijack the boardroom.<\/p>\n The bill would also give shareholders an annual nonbinding vote on executive pay packages and require companies to have policies in place outlining how they would claw back pay from executives. The SEC has proposed a so-called proxy access rule, but it hasn\u0092t been finalized.<\/p>\n Monday at the Council of Institutional Investors<\/strong> annual meeting, Deputy Treasury Secretary Neal Wolin<\/strong> told the crowd the administration supports all the governance measures calling them \u0093a significant enhancement\u0094 that could be used to \u0093rein in the irresponsible pay practices that led so many firms to act against the interests of their shareholders.\u0094<\/p>\n While the Senate bill passed through the Banking Committee without any amendments or Republican support, Republican Senators have echoed concerns of big business and suggested they will offer amendments to strip out some of these measures.<\/p>\n A dozen business groups are urging lawmakers to vote down corporate governance changes included in the Senate financial regulation bill, one day after an Obama administration official threw his weight behind the measure. The U.S. Chamber of Commerce, National Association of Manufacturers, and Financial Services Roundtable were among the 12 organizations that sent a letter […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-526374","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/526374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=526374"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/526374\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=526374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=526374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=526374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/img><\/a>
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