{"id":4480,"date":"2007-07-05T07:24:11","date_gmt":"2007-07-05T07:24:11","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/follow_up_north_carolina_treas_1"},"modified":"2022-03-28T14:15:31","modified_gmt":"2022-03-28T19:15:31","slug":"follow-up-north-carolina-treas-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/follow-up-north-carolina-treas-1\/","title":{"rendered":"Follow Up: North Carolina Treasurer Urges Elimination of Brokerage Firms Voting of Client Shares"},"content":{"rendered":"

\t\t\t\tOn June 11, 2007, we published an article entitled “Should Brokerage Firms Continue to Vote Their Clients’ Shares without Permission, Including for Corporate Directors?” State Treasurer Richard Moore of North Carolina has recently answered that question with a resounding “No!” <\/p>\n

In a statement, Moore contends that allowing such votes thwarts corporate reform and prevents shareholders of a company from having adequate representation in director elections. Moore is also a board member of NYSE Regulation and called on SEC to approve an NYSE proposal that would change its Rule 452 to eliminate broker voting in all director elections.<\/p>\n

Under the NYSE’s current rule, brokers may vote on “routine” proposals if the beneficial owner of the stock has not provided specific voting instructions to the broker at least 10 days before a scheduled meeting. The proposed change would end all voting of customer shares for directors by categorizing all such elections as “non-routine.”<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

On June 11, 2007, we published an article entitled “Should Brokerage Firms Continue to Vote Their Clients’ Shares without Permission, Including for Corporate Directors?” State Treasurer Richard Moore of North Carolina has recently answered that question with a resounding “No!” In a statement, Moore contends that allowing such votes thwarts corporate reform and prevents shareholders […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3774,3789],"tags":[],"class_list":["post-4480","post","type-post","status-publish","format-standard","hentry","category-broker-dealers","category-stockbroker-regulation"],"yoast_head":"\nFollow Up: North Carolina Treasurer Urges Elimination of Brokerage Firms Voting of Client Shares — Investor Lawyers Blog — July 5, 2007<\/title>\n<meta name=\"description\" content=\"On June 11, 2007, we published an article entitled "Should Brokerage Firms Continue to Vote Their Clients' Shares without Permission, Including for — July 5, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/follow-up-north-carolina-treas-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Follow Up: North Carolina Treasurer Urges Elimination of Brokerage Firms Voting of Client Shares — Investor Lawyers Blog — July 5, 2007\" \/>\n<meta name=\"twitter:description\" content=\"On June 11, 2007, we published an article entitled "Should Brokerage Firms Continue to Vote Their Clients' Shares without Permission, Including for — July 5, 2007\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" 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