Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.
U.S. corporations employ millions of American workers, create opportunity for employees and shareholders, drive innovation, improve the lives of consumers, and provide health care and other benefits to American families. The way corporations are governed directly affects the well-being of employees, shareholders and consumers.
Business Roundtable advocates for corporate governance policies that help create long-term value, advance the economic interests of workers, shareholders and consumers, and uphold the highest ethical standards.
Recent Activities in Corporate Governance
BRT believes that the “conflicting proposal” exclusion under the proxy rules and the SEC Staff’s longstanding interpretation of it remain appropriate in light of the purpose of the rule, the role of the board in corporate governance and the current proxy system.
Recognizing the importance of the SEC’s proposed rules for implementing the hedging disclosure provision in Dodd-Frank, Business Roundtable puts forth key necessary revisions to strengthen the final rules by, in part, ensuring that investors are not inundated with immaterial information.
As the SEC begins its Disclosure Effectiveness Initiative, Business Roundtable issues recommendations to help keep focus on the critical issues, such as maintaining materiality a the guiding principle for corporate disclosure, coordinating with other policy-makers and eliminating duplicative and outdated information.
Business Roundtable supports a pending petition before the SEC to begin rulemaking that would raise to a rational level the prior year voting thresholds a shareholder proposal would have to satisfy to be eligible for resubmission in the current year.
We write with respect to recent developments involving the shareholder proposal process and the significant disruptive effect these developments are having on companies, boards of directors and shareholders.