VOTES FOR WOMEN - and everybody else too! @SEC don't disenfranchise 100 million Americans.

VOTES FOR WOMEN - and everybody else too! @SEC don't disenfranchise 100 million Americans.

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Citizen Shareholders International started this petition to US Securities and Exchange Commission and

Jay Clayton plans to gut corporate governance in the USA by removing the rights of non-billionaire shareholders to propose resolutions.

The SEC's Exchange Act Rule 14a-8 the SEC will result in a North Korea like form of democracy where people, or in this case shareholders, can vote on any resolution approved by the 'Dear Leaders' (Board of Directors)

Why is Mr Clayton, recently nominated as United States attorney for the Southern District of New York, doing this now?

Could it be because Financial Technology has reached a point where the 103.7 million Americans (plus hundreds of millions more indirect shareholders around the world) who own shares through their pensions and investments will be able to use the power of the trillions of dollars worth of publicly traded shares to meaningfully change the behavior of the corporations that dominate our planet?

This cynical attempt to effectively disenfranchise over 100 million Americans by preventing them from supporting the issues that matter to them and getting them voted on at the Annual General Meetings of shareholders reflects a commitment to maintaining business as usual, a position that almost every American, Red State or Blue, Urban or Rural, recognizes is not working. 

If you have, or ever plan on having (or your kids having) a mutual fund, pension, ETF (non-synthetic), then this affects you. It also affects the vast majority of Asset Managers who generally hold less than the required 5% of a company.

Sure, people will still be able to rubber stamp the resolutions that the Boards of these companies want them to vote on. But the SEC's proposals will remove the ability of shareholders, direct and indirect, to get the issues that matter to them onto the only corporate agenda that counts, the legally binding (in much of the world) General Meetings of Shareholders

The SEC's rational for introducing changes to Exchange Act Rule 14a-8 is that  support for externally proposed resolutions has become frivolous. We would argue that any frivolity is due to the non-binding status of externally proposed resolutions in the US. The way to fix this is to  increase democracy rather than diminish it.

All resolutions passed at a general meeting of shareholders should be equally binding irrespective of whether they were proposed by the company's Board or a group of shareholders representing 5% of the company's voting stock.

The more power shifts to from Governments to the corporations that dominate our planet want, the more important good democratic corporate governance becomes.

As the SEC reflects on whether to implement this rule, we would ask you to join with us in urging them to do in the light of their own missions statement:

“The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.
The SEC strives to promote a market environment that is worthy of the public's trust.”

We do not believe that this includes rendering corporate governance in the US less democratic that it is in China.

Please sign and share this petition and ask your political representatives if they support your right to a meaningful role in the governance of the companies that you own a slice of through your pensions and investments.

The SEC present us with a stark choice, corporate governance by the Board for the Board, or by the shareholder for the shareholder.

VOTES FOR WOMEN and everybody else too!

Our slogan came about because almost every single argument we have heard as to why people should not be allowed to vote the shares that they bear the investment risk of is identical to the arguments of those who said that women shouldn't have the vote.

So please sign and share this petition.

If you have the opportunity, please ask the candidates seeking your votes in the upcoming election whether or not they support VOTES FOR WOMEN and everybody else too.

Declaration of Interest - This petition was created on behalf of the not-for-profit 'Electoral Commission' that works with the for-profit Citizen 'voting mechanism'.

The only cause we support is Universal Suffrage, it is up to you to decide what kind of world you want to live in.

Citizen Shareholders is free for Citizen Shareholders. The for-profit charges Asset Managers a small commission to convert any equity containing fund, active or passive, into an Ethically Engage Impact Fund by transforming indirect shareholders into Citizen Shareholders.
The not-for-profit receives a minimum of 20% of all commercial revenue and capital raises to support the Default Adviser and Citizen Shareholders Assembly processes.
Click here to learn more about  Exchange Act Rule 14a-8

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