The Shareholder Association for Research and Education and 46 other signatories to the United Nations Principles for Responsible Investment have called on the U.S. Securities and Exchange Commission (SEC) not to curtail shareholders’ rights. The letter comes in response to a discussion paper issued by the SEC that proposed changing the process to submit shareholder proposals. The coalition, comprised of signatories from 10 countries representing US$1.4 trillion in assets under management, included other Canadian signatories bcIMC, Bâtirente, Ethical Funds, and Inhance Investment Management.
More than 20,000 submissions were sent to the SEC opposing its recent release, a record number. The complete list of responses is posted on the SEC website.