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The Securities and Exchange Commission is proposing companies should be allowed to use the Internet more as a corporate governance tool.

Christopher Cox, SEC chairman is proposing that companies would be able to issue proxy statements to shareholders via the Internet.

At a shallow level the move would save companies money, whilst also improves the information flow to investors by using technology.

The deeper significance would come with a possible increase in contested board elections. In these shareholders put up a rival slate of candidates for directorships.

Contested elections are extremely rare in the U.S. due to the cost of mailshots to shareholder groups.

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Keywords

corporate governance

SEC and directors

SEC and proxy

proxy voting

Christopher Cox

corporate governance and Internet

board elections