Statement Of New York City Comptroller Scott M. Stringer On The Securities And Exchange Commission Review Of Its Rule For Excluding Conflicting Proxy Proposals

I commend Securities and Exchange Commission Chair Mary Jo White for directing staff to revisit how the Commission interprets competing proposals on the corporate ballot. That eighteen different companies have filed with the Commission seeking to exclude the New York City Pension Funds’ proxy access proposals shows that companies are trying to game this process in a way the Commission could not have intended.

While I believe a reversal of the Commission’s decision on Whole Foods’ proposal was entirely warranted, it is my hope that as a result of this review, shareowners will soon have the right to cast votes on meaningful proxy access and other proposals.

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