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Boards Could Play Bigger Role in Blocking Shareholder Proposals

November 3, 2017, Bloomberg BNA

Keir Gumbs is quoted in a Bloomberg BNA article regarding new guidance from the Securities and Exchange Commission that could allow corporate boards to play a bigger role in blocking shareholder proposals. “This will be a very big deal if board involvement is a requirement for a company to exclude a shareholder proposal," says Gumbs. Boards are typically briefed on proposals, since they are the ones who make recommendations to shareholders for how to vote on them. Gumbs adds, however, that the board’s take isn’t always sought before trying to exclude a resolution.

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