August 18, 2014
Poll: How Are You Responding to Your SDX Shareholder Engagement Letter?
In the course of my blog entitled “Shareholder Engagement: Should Directors Be Politicians? 10 Things to Consider,” I noted that 1000 companies recently received a letter from SDX asking boards to “consider adopting and clearly articulating a policy for shareholder-director engagement, whether through adoption of the SDX Protocol or otherwise.”
Although the letter doesn’t specifically ask for a response, a number of members have asked what other companies are doing with the letter. Here’s a poll to address that query:
We have 25 memos about SLB #20 posted in our “Proxy Advisors” Practice Area – including this newest one from Georgeson in a useful FAQ format…
Regulation A+ Comment Letters: 9 Senators Weigh In
Recently, I blogged about some humor in comment letters sent in on the SEC’s Regulation A+ proposal. Now, a group of 9 Senators sent in their own comment letter, expressing concern about state regulator preemption. Not a new theme as this blog notes a comment letter along the same lines from 20 members of the House. Here are all the comments so far on this proposal.
Meanwhile, the latest state government – Kansas – is in trouble for their disclosures regarding their pension plan. As this SEC enforcement release states, one reason the Kansas plan is underfunded is that the state has not made the annual required payments into the plan, leaving it just 59% funded. In the SEC release, it notes an “outside accountant” advised the government they did not need to make the disclosures – but the SEC release fails to report who that accountant was (see paragraphs 7 and 8).
Delaware Supreme Court: Strine Wears New Robes – News at 11
I chuckled to see this article from DelawareOnline about the new style of judicial robe that Chief Justice Strine is rocking. Legal fashion is “in” baby! Justice of a different stripe?
Let’s not forget that SCOTUS Chief Justice Rehnquist upped the ante in judicial attire when he became Chief Justice in 1994. A local Gilbert & Sullivan troupe – Victorian Lyric Opera Company in Rockville – takes credit for the inspiration as a few months before Rehnquist’s duds were introduced as they had judges robes in “Trial by Jury” that were almost identical.
– Broc Romanek