Under the Dodd-Frank Financial Regulation Bill, the SEC gave corporate and mutual fund shareholders more to say in boardrooms, more access to proxies for nominations of board members.
Lots of theoretical platitudes, but little that shareholders were really interested in. Nothing bottom-line that shareholders were actually able to learn about or act upon, or even profit from in the real world.
Great for populist politicians who pass laws, and for plaintiff lawyers to wax rich on.
Fortunately, a federal court thought the provision unreasonable and since September the SEC has cancelled its mission. ( See the Earl J Weinreb NewsHole® comments.)
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