The Securities and Exchange Commission on Tuesday approved a measure that gives institutional shareholders a vote on executive pay at large corporations, part of regulators' efforts to give investors greater say over top-level salaries that have been described as excessive.
How much power should shareholders have when it comes to running a company? Usually, the answer is 'very little'. But a new rule change by the SEC may change that, allowing the people who actually own a company more input into how it is run.
In a clear win for the shareholders rights movement, the Securities and Exchange Commission announced Thursday that it was changing federal proxy rules to make it easier for companies' shareholders to nominate and elect directors to their boards.