Proxy Access

Proxy access comes down to this: If you give long-term shareholders (meaning those who own 3% of the shares for three years) easy access to board nominations, they will finally be able to perform their monitoring function adequately.

WASHINGTON — The Securities and Exchange Commission on Wednesday approved changes that make it easier for shareholders to nominate directors of ...

The SEC has proposed a new regulation that would allow shareholders to directly nominate corporate board members called "Proxy Access." If this goes into effect this fall as expected, I intend to run for the WellPoint board.

It's clear that we need reform, and we need it now, but rushing through legislation without carefully considering the long-term ramifications for our economy is not the way to go.

Although slightly under the radar, in 2010, the Securities and Exchange Commission is set to unveil new rules that will recalibrate the balance of power between corporate management and shareholders.

Democrats and Republicans faced off Wednesday in a congressional debate over whether shareholders should have an easier time nominating directors to c...