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Corporate Governance
Equal Access to the Proxy
The Securities and Exchange Commission (SEC) is considering adopting a proposal to give shareholders access to the corporate proxy when nominating directors.
- April 21, 2010 - In testimony before a Congressional hearing titled "Corporate Governance and Shareholder Empowerment," AFL-CIO Office of Investment Deputy Director Brandon Rees explained why corporate governance reform is needed to respond to the financial crisis.
- April 1, 2010 - In a keynote address at a conference on proxy access at George Washington University Law School, AFL-CIO Office of Investment Deputy Director Brandon Rees explained why workers support giving shareholders equal access to the proxy.
- January 19, 2010 - In a letter to the SEC, the AFL-CIO reiterated its support for the SEC's proposal on proxy access and responded to arguments made by the Business Roundtable, an association of the chief executives of the nation's largest corporations, against this rule.
- August 10, 2009 - In a comment letter to the SEC, the AFL-CIO explained that proxy access is important because it will lead to the election of a greater number of independent directors who are able to focus on protecting the long-term interests of shareholders.
Auditor Independence
The Public Company Accounting Oversight Board (PCAOB) was created by the Sarbanes-Oxley Act to oversee the auditors of public companies in order to protect investors and the public.
- May 26, 2010 -In a comment letter to the PCAOB, the AFL-CIO supported new requirements to improve communciations between independent auditors and board audit committees.
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