It’s a very tall order, but NIRI, the Society of Corporate Secretaries & Governance Professionals and three other trade associations have launched a campaign attempting to enlist the average shareholder in a reform of the 'cumbersome, circuitous and overly expensive' proxy system.
A new website for the Shareholder Communications Coalition outlines the afflictions in crystal-clear language. Check out the definitions of NOBO/OBO in layman’s terms and the explanation of how shareholders can keep short sellers from borrowing their shares held in margin accounts. There’s a shot or two at Broadridge Financial Solutions, locked in (as it is) at the center of most proxy material processing, and plenty of testimonials from figures in the proxy community supporting the coalition position.
We think they’ll need some luck driving traffic considering many shareholders can’t even be bothered to open their proxy statements.