Leading socially responsible and religious investing groups have mounted a rigorous campaign to stop a possible Securities and Exchange Commission (SEC) attempt to restrict shareholder rights. A joint effort between the Social Investment Forum (SIF) and the Interfaith Center on Corporate Responsibility (ICCR) has culminated in the creation of SaveShareholderRights.org. The website includes information about the SEC’s proposed amendments to rule 14a8 (which governs most shareholder rights) plus commentary and opportunities for action. Until early October, the SEC will be accepting comments to the proposed amendments.

While the precise effect of the proposals is somewhat vague due to ambiguous language, observers agree that a serious erosion of shareholder rights is at stake - including the legal basis of shareholder advocacy, one of the most important components to MMA’s Stewardship Investing. Please take a moment to view the new SIF/ICCR website and consider joining others in support of shareholder rights. Further developments on this issue will be posted.

This entry was posted on Thursday, September 6th, 2007 at 2:12 pm and is filed under MMA, In the news, Chris. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.