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U.S. House of Representatives Passes Proxy Advisory Firm Reform Legislation

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Nasdaq applauds the House’s passing of H.R. 4015, Corporate Governance Reform and Transparency Act

U.S. House of Representatives Passes Proxy Advisory Firm Reform Legislation

By Nelson Griggs / President, Nasdaq Stock Exchange

US Capitol with American FlagIn May, Nasdaq published our Revitalize blueprint for market and regulatory reform: It included 25 proposed ideas for easing access to the public markets and reducing the burdens of being a public company. Proxy reform is of particular importance to our Revitalize initiative. Many public companies have shared their experiences with the current proxy advisory process, and we have been committed to advocating for accountability and transparency in the industry. Nasdaq gathered nearly 300 signatures for our letter sent to House leadership in support of H.R. 4015, Corporate Governance Reform and Transparency Act. We are pleased that this legislation passed the U.S. House of Representatives last week by a vote of 238-182. We remain committed to working with Congress to move not only the proxy advisory legislation through the process of becoming law, but also the other key issues that our issuer community believes will help make the public markets more attractive.

Related links
Robust Support for Proxy Advisory Firm Reform Legislation
Proxy Advisory Reform: Legislation Update
Results: 2017 Proxy Season Survey
Nasdaq’s Revitalize Blueprint

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