Regime Change and the SEC's Corporate Governance Agenda: A Recap

So, in this last post, we list the top 10 most important corporate governance reforms that require action by the Commission.  These include:

#10    Strengthen disclosure of environmental policies and practices;

#9       Reform of the shareholder communication rules to facilitate direct communications with beneficial owners;

#8       Reform of the NYSE 10 day rule to allow brokers to vote shares present for quorum purposes but not for unopposed directors;

#7       Enforce the corporate governance disclosure requirements of Item 407 of Regulation S-K;

#6       Disavow any further use of a willingness to referr proposals submitted under Rule 14a-8 to the Delaware Supreme Court;

#5       Adopt disclosure requirements designed to ensure the independence of compensation consultants;

#4       Adopt disclosure requirements designed to highlight corporate social responsibility;

#3       Amend the rules implementing Section 13(d) to require disclosure of equity swap and other derivative positions that result in an investor exceeding the 5% threshold;

#2       Adopt disclosure requirements designed to ensure better governance and independent sources of information to the board; and

#1       Access.  The Commission should provide large (or groups of) shareholder with direct access to the company's proxy statement for their nominees.