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“They Are Merely the Agents”: Prepared Remarks before the American Bar Association

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission Wiki“They Are Merely the Agents”: Prepared Remarks before the American Bar Association

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler reviews new proxy voting and beneficial ownership rules.

Problems raised
  1. Proxy voting records were not transparent enough.
  2. Information asymmetries raise the cost of capital.
  3. Reporting rules were outdated.
Solutions proposed
  1. Require more detailed proxy voting disclosure.
  2. Modernise beneficial ownership reporting.
  3. Require exchanges to adopt new listing standards.
Read full speech on sec.gov ↗

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