On November 5, 2019, the U.S. Securities and Exchange Commission (SEC) proposed new rules that would weaken investors’ abilities to communicate with company boards and fellow investors through the shareholder resolution process—a tool that CBIS has found to be critical to address issues like corporate corruption, CEO pay, climate change and human rights abuses over the last four decades. The Commission also proposed rules that day that would significantly impact the independence of proxy voting advisors—third parties that firms like CBIS hire for their expertise and views on various corporate issues up for a vote on proxy voting ballots each year.
On January 21, 2020 CBIS sent a letter to the SEC in response related to requirements for filing shareholder resolutions (File No. S7-23-19) and regarding proxy voting advice (File No. S7-22-19).
As long-term, faith-aligned investors, we continue to take steps to ensure shareholder priorities are supported by enabling corporate boards to better understand and anticipate impending concerns.
We encourage our investors, subadvisors and business partners to do the same. To view CBIS’ letter and information on how to voice your concerns click here >>