Broadridge on SEC proxy plumbing: be careful what you wish for
RICH DALY, the CEO of Broadridge Financial Solutions, Inc. (NYSE:BR), has responded to investor concerns about the potential impact on his company of the Securities and Exchange Commission’s (SEC) proxy system review, saying critics want to take the system back 45 years and companies’ costs could more than double in an unregulated market.
SEC’s proxy plumbing “does all we could have hoped,” says Computershare
STUART CROSBY, the CEO of Australia-based Computershare Limited (ASX:CPU), the world’s biggest transfer agent business and main rival to Broadridge Financial Solutions (NYSE:BR), has praised the Securities and Exchange Commission’s concept paper on improving the US proxy system.
In proxy voting messes, Broadridge a common denominator
AN ADMISSION from Broadridge Financial Solutions Inc. (NYSE:BR) that a basic system glitch caused it to undercount votes against directors in Yahoo! Inc.’s contentious annual meeting is just the latest in a string of recent problems where the company has been implicated. Questions were raised about the outcome of the Yahoo! meeting — perhaps the [...]
US firms love e-proxy savings, but at what cost?
DESPITE the risk that they might be reaping short-term gains while laying the foundation for long-term pain, 566 US companies used notice-only e-proxy mailings for their shareholder meetings by the end of April. According to figures compiled by Broadridge Financial Solutions Inc., companies have saved about $132 million through lower print and mailing costs. Unfortunately, [...]
Participation plummets in e-proxy votes
BROADRIDGE Financial Solutions has released preliminary figures showing sharply lower participation rates by retail shareholders in annual meetings of companies using the new “notice-and-access” model. “Notice-and-access” entails sending a notice to investors by mail asking them to go online for their annual meeting materials, or to request printed materials to be mailed to them. It [...]
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