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Tag >> christopher cox
Jun 18

Financial bill to exclude majority voting provision

Posted by Stephen Taub in US Chamber of Commerceproxy accessmajority votecompliancechristopher coxBusiness Roundtable

Stephen Taub

So much for shareholders gaining much more say over the Board of Directors.

It looks like the financial overhaul bill being hammered out by Senate and House conferees will exclude one critical earlier proposal and include a greatly watered down version of another.

Feb 25

It’s unanimous: SEC no longer requires 5-0 votes

Posted by Stephen Taub in Securities and Exchange CommissionsecSchapiropresident bushObamacompliancechristopher cox

Stephen Taub

A lot has been written about the pros and cons of the  SEC's new rules regarding short-selling. However, perhaps even more significant--but widely overlooked--is the fact that on Wednesday, the SEC approved the changes with a 3-2 vote. 

This is a big deal, folks. Christopher Cox, SEC chairman during President Bush's second term, was widely criticized for his policy that the regulator only passes new rules unanimously. His goal was to avoid partisan votes, since commissioners are typically chosen based on party affiliation. However, keep in mind that there cannot be more than three commissioners from the president's party.

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